THE 


COAL  AND  IRON  MINES, 

O  F  T  H  E 


UNION  POTOMAC  COMPANY, 

(INCORPORATED  BY  VIRGINIA,) 

AND  OF  THE 

UNION  COMPANY, 

(INCORPORATED  BY  MARYLAND,) 

COMPRISING  UPWARDS  OF 


FIFTYSIX  THOUSAND  ACRES  OF  LAND, 


SITUATE  IN 

ALLEGHANY  COUNTY,  MARYLAND, 

AND  I  N  ' 


HAMPSHIRE  COUNTY,  VIRGINIA. 


BALTIMORE: 

PRINTED  BY  JOHN  MURPHY, 
146  MARKET  STREET. 


1  8  4  0. 


VVn'i'^e  c 


VI 


Digitized  by  the  Internet  Archive 
in  2017  with  funding  from 

University  of  Illinois  Urbana-Champaign  Alternates 


*  ,  Jt 

* 


https://archive.org/details/coalironminesofuOOunio 


oo*  l  s.yeo-i^  ^0-%j  I 


5 


PROSPECTUS. 


To  provide  a  continous  navigation  between  the 
waters  of  the  Chesapeake  Bay  and  the  Ohio  river, 
by  the  Potomac  route;  and,  especially,  to  develope 
the  inexhaustible  Coal  and  Iron  Mines  of  the  Alle¬ 
ghany  region,  through  which  that  route  passes,  the 
Congress  of  the  United  States,  and  the  Legislature  of 
Virginia,  Maryland  and  Pennsylvania,  in  the  years 
1824, — 5,  and  6,  incorporated  a  company  with  power 
to  construct  the  Chesapeake  and  Ohio  Canal  in  three 
sections,  the  eastern-most  of  which  extends  from  tide 
water  at  Georgetown,  up  the  Potomac  river  to  Cum¬ 
berland,  the  distance  being  about  190  miles:  and  in 
accordance  with  their  design,  the  Congress  of  the 
United  States  subsequently  authorised  an  extension 
of  said  Canal,  from  Georgetown  down  the  valley 
of  the  Potomac  river,  about  Ten  Miles,  to  Alexandria ; 
and  the  State  of  Maryland  likewise  authorized  its 
being  extended  by  the  Maryland  Canal  Company  to 
the  City  of  Baltimore,  the  distance  being  about  40  miles. 

Towards  the  construction  of  the  said  section  of  the 
Chesapeake  and  Ohio  Canal,  the  Government  of  the 
United  States,  the  Cities  in  the  District  of  Columbia, 
the  Government  Viro-inja,  and  individuals  have 


4 


contributed,  by  subscriptions  for  Capital  Stock,  up¬ 
wards  of  Three  Millions  of  Dollars  : — and  the  State 
of  Maryland  has,  in  like  mode,  contributed  about 
Five  Millions  of  Dollars;  and  by  a  Loan  secured  by 
the  Mortgage  of  the  whole  work,  Two  Millions  of  Dol¬ 
lars,  or,  together,  Seven  Millions  of  Dollars — making 
in  all,  an  aggregate  sum  of  Ten  Millions  of  Dollars. 

With  these  means  the  eastern  section  of  the  Chesa¬ 
peake  and  Ohio  Canal  has  been  constructed  and  the 
navigation  opened,  from  tide  water  at  George¬ 
town,  the  distance  of  140  Miles — to  a  point  5  miles 
above  Dam  No.  6,  which  is  10  miles  above,  or  West 
of  Hancock  ;  and  to  reach  Cumberland,  there  yet  re¬ 
main  about  50  miles  more,  to  be  completed ;  but  of 
this,  extensive  and  costly  portions  are  now  being  ex¬ 
ecuted,  so  that  the  whole  may  be  completed  by  the 
spring  of  1842. 

Until  the  Canal  reaches  Cumberland,  where  it 
will  be  connected  with  the  Coal  Mines  by  short  rail 
roads  and  other  ways  the  very  large  investments  of  Cap¬ 
ital  already  expended  on  that  work,  must  remain  so  un¬ 
productive,  that  the  State  of  Maryland,  as  its  chief  pro¬ 
prietor,  will  find  it  absolutely  necessary  to  provide  the 
means  required  to  finish  the  Eastern  Section,  as  soon 
as  practicable. 

And  there  is  good  reason  to  believe  that  when 
these  means  shall  be  provided,  funds  will  be  appropri¬ 
ated  to  extend  the  work  simultanously  to  Baltimore ; 
as  the  right  to  use  the  summit  waters,  being  both 
branches  of  the  Patuxent  river ,  for  that  purpose,  has 


vested  in  the  Maryland  Canal  Company,  whose  Stock¬ 
holders  have  offered  to  assign  their  privileges  to  the 
Corporation  of  Baltimore ;  and  if  the  City  declines  their 
offer,  the  liberal  privileges  of  that  charter  will  certain¬ 
ly  command  capital  adequate  for  this  enterprise ;  be¬ 
cause,  soon  after  the  Chesapeake  and  Ohio  Canal 
shall  be  connected  with  the  Coal  Field  near  to  Cum¬ 
berland,  there  will  undoubtedly  pass  on  that  work 
and  through  the  Maryland  Canal  to  Baltimore,  in¬ 
dependently  of  other  tonnage,  several  millions  of  tons 
of  Coal,  annually — and  if  the  moderate  rate  of  but  one 
half  cent,  per  ton,  per  mile,  on  Coal,  be  collected — and 
this  only  on  one  million  of  tons,  it  would  yield  to  the 
Maryland  Canal  Company,  for  forty  miles,  two 
hundred  thousand  dollars ;  being  more  than  six  per 
cent,  on  three  millions  of  dollars — the  estimated  cost 
of  the  Maryland  Canal,  as  computed  by  civil  engineers 
in  the  service,  and  acting  under  the  government  of 
the  United  States,  and  therefore  known  to  be  ample 
and  correct. 

Some  time  in  the  winter  of  1835 — 6,  when  it  was 
believed  that  the  State  of  Maryland  would  grant,  as 
it  did  in  June,  1836 — such  further  aid  as  was  then 
deemed  necessary  and  sufficient  to  complete  the 
Eastern  Section  of  the  Chesapeake  and  Ohio  Canal — 
applications  were  made  by  Duff  Green,  to  the  Legis¬ 
latures  of  Virginia  and  Maryland  for  acts  of  incorpor¬ 
ation,  to  form  Joint  Stock  Companies  for  the  purpose 
of  extensively  working  Coal  and  Iron  mines  situate 


6 


in  Hampshire  County,  Virginia,  and  in  Alleghany 
County,  Maryland;  for  which  mines,  he  originally 
made  provisional  contracts  with  their  Proprietors, 
at  prices  so  moderate,  that  other  parties  may  become 
interested  in  the  enterprise  upon  terms  most  advan¬ 
tageous  to  them. 

The  Legislature  of  these  States,  anxious  to  favour 
and  secure  the  extension  and  economical  working  of 
said  mines,  granted  the  desired  Charters — which  con¬ 
ferred  upon  the  Union  Potomac  Company,  incorpor¬ 
ated  by  Virginia— and  the  Union  Company  incorpor¬ 
ated  by  Maryland,  ample  power  to  connect  said  mines 
which  centre  near  Westernport,  by  means  of  Rail 
Roads,  or  Canal  and  Slack- water  navigation,  with  the 
Chesapeake  and  Ohio  Canal,  and  the  Baltimore  and 
Ohio  Rail  Road :  and  also  granted  various  other  libe¬ 
ral  and  most  valuable  corporate  privileges  as  is 
hereinafter  mentioned. 

The  accompanying  Map  shows  the  location  of  the 
lands,  which  chiefly  lie  within  the  diagram  formed 
by  broken  lines,  and  the  Sections  show  the  veins  of  ore 
and  coal,  near  to  Westernport,  as  verified  by  Major 
Douglass,  late  Professor  of  Civil  Engineering  at  West 
Point,  as  will  be  seen  by  reference  to  extracts  from  his 
report,  given  at  the  conclusion  of  this  Prospectus. 
The  scale  of  this  section,  being  about  200  feet  to  the 
inch,  is  too  small  to  represent  the  coal  measures  accu¬ 
rately — the  thickness  of  each  vein  is,  therefore,  given 
on  a  scale  of  about  50  feet  to  the  inch,  and  a  illative 
proportion  preserved  in  the  drawing. 


7 


The  Union  Potomac  Company  chartered  by  the 
State  of  Virginia,  may  hold  forty  thousand  acres  of 
land  ;  and  estate,  real,  personal  and  mixed;  with  the 
privilege  to  use,  lease,  sell,  or  otherwise  dispose  there¬ 
of;  and  in  addition  to  the  stock  representing  their 
lands,  may  have  a  cash  capital  of  three  millions  of 
dollars. 

This  Company  may  construct  a  canal  or  slack 
water  navigation  from  Cumberland  to  the  mouth  of 
Savage  river,  and  has  the  right  to  use  or  sell  all  the 
water  privileges,  thus  created.  They  can  erect  and 
carry  on  mills  and  manufactories  of  all  kinds.  They 
may  borrow  money,  issue  their  bonds  therefor,  and 
dispose  of  the  money  thus  borrowed ,  as  they  deem  ex¬ 
pedient.  They  are  authorised  to  connect  their  mines 
and  manufactories  with  the  Chesapeake  and  Ohio 
Canal,  and  the  Baltimore  and  Ohio  Rail  Road,  and 
with  any  other  Rail  Road  or  Rail  Roads  which  now 
are,  or  hereafter  may  be  authorised  by  the  State  of 
Virginia;  and  can  charge  a  rate  of  tolls  on  their 
Canal  and  Rail  Road,  yielding  them  fifteen  per  cent, 
profit.  They  have  liberal  grants  for  the  condem¬ 
nation  of  lands,  materials,  &c.  The  charter  is  per¬ 
petual  ;  but  so  much  as  relates  to  the  construction 
and  working  of  mills  and  manufactories,  and  Coal  and 
Iron  mines,  shall  continue  in  force  for  fifty  years  ;  and 
maybe  altered,  repealed,  and  modified  after  thirty  years. 

The  Union  Company  was  chartered  by  Maryland 
with  the  right  to  hold  a  capital  of  Three  millions  of 


8 


dollars  ; — to  purchase  thirty  thousand  acres  of  land, 
and  to  create  a  trust  fund  of  Two  millions  of  dollars 
more,  which  may  be  invested  in  public  securities  of 
the  United  States,  or  of  either  of  the  United  States,  in 
real  estate,  in  the  stock  of  some  other  incorporated 
Company,  or  in  bonds  or  notes  secured  by  a  pledge  of 
of  real  estate. 

This  Company  has  the  power  to  make  Insurance 
on  lives  or  other  casualties ;  to  receive  endowments 
or  deposits  of  personal  or  mixed  property  in  Trust ;  to 
grant  annuities ;  to  contract  for  reversionary  payments ; 
to  make  all  kinds  of  contracts  in  which  the  casu¬ 
alties  of  life,  or  the  interest  of  money  are  concerned  ; 
to  acquire  and  dispose  of  goods  and  effects ;  to  pro¬ 
vide  for  the  investment  of  the  funds  of  the  Company 
in  bonds  and  mortgages,  or  in  such  manner  as  they 
may  deem  most  beneficial.  This  charter  is  perpe¬ 
tual  ;  but  so  much  as  relates  to  the  establishment 
and  working  of  mills,  mines  or  manufactories,  and  the 
Trust  powers  may  be  modified  or  repealed  after 
thirty  years. 

These  Companies  being  duly  organised,  and  au¬ 
thorised  so  to  do,  have  formed  a  compact  of  union  ; 
whereby  the  shareholders  are  alike  interested  in  both 
Companies,  and  hold  the  like  number  of  shares  in 
each. 

These  Companies,  thus  united,  have  purchased  up¬ 
wards  of  fifty-six  thousand  acres  of  land,  a  large  part 
thereof  containing  coal  and  iron  ore  ;  a  part  of  which, 


9 


of  an  average  quality  and  value,  has  been  estimated 
under  oath  by  Professors  Renwick,  Ducatel,  and  Kin¬ 
sey,  at  one  hundred  dollars  per  acre,  considered  as 
part  of  the  stock  of  a  Company  with  Capital  suffi¬ 
cient  to  open  and  work  the  mines. 

These  lands  border  on  the  National  Turnpike, 
about  seven  miles  west  of  Cumberland,  and  extend 
south,  crossing  the  Potomac  a  few  miles  below 
Westernport,  and  thence  extending  up  on  both  sides  of 
the  Potomac,  about  five  miles  above  Savage  river. 

It  may  be  proper  to  add  the  following  disinterested 
testimony  in  relation  to  the  quality  and  value  of  the 
Ores  and  Coals  on  these  lands,  taken  from  official  and 
other  documents. 

Lieutenant  Wm.  Y.  Lynch,  of  the  U.  S.  Navy,  in 
a  letter  to  the  Hon.  Wm.  Cost  Johnson,  published  in 
a  report  to  Congress,  Doc.  H.  Rep.  No.  168,  says, — 
That  uone  ton  of  Cumberland  Coal,  is,  in  mechanical 
effect,  equal  to  two  tons  of  Anthracite.”  John 
MTherson  Brien,  the  proprietor  of  the  Antietam  iron 
works,  in  a  letter  published  in  the  same  document, 
dated  Feb.  1836,  speaking  of  Cumberland  coal  in  the 
manufacture  of  iron,  says:  “We  have  made  a  fair 
experiment  of  this  Coal  with  the  Richmond,  and  find 
it  to  be  a  much  superior  article.  One  bushel  of 
Cumberland  Coal  is  worth  two  of  Richmond,  or  any 
other  we  have  used.” 

The  importance  of  the  mines  in  the  neighborhood 
of  Westernport,  as  a  source  of  profit  to  the  Chesa- 
2 


10 


peake  and  Ohio  Canal  has  always  been  urged  by  the 
engineers  and  agents  of  that  company.  We  give  a 
few  extracts  from  the  remarks  of  A.  Cruger  and 
Judge  Roberts,  two  of  said  engineers.  See  Mr.  Mer¬ 
cer’s  report  to  the  House  of  Representatives  of  the 
U.  States  in  1834,  Doc.  No.  414,  Appendix. 

Extract  from  A.  Cruger1  s  remarks ,  Sept.  1829. 

“Coal,  which  constitutes  the  great  source  of  wealth 
of  this  region,  may  be  said  to  be  inexhaustible.  The 
vast  and  increasing  importance  of  this  mineral,  as  a 
necessary  article  of  fuel,  as  wTell  as  from  its  peculiar 
application  to  manufactures,  renders  its  use  indispen¬ 
sable,  and  makes  it  desirable  that  every  facility 
should  be  given  to  its  distribution. 

“By  an  inspection  of  the  accompanying  maps,  it 
will  be  perceived  that  Savage  river,  forcing  a  passage 
through  Savage  mountain,  unites  itself  with  the  North 
Branch;  after  having  formed  this  junction,  and  receiv¬ 
ing  George’s  creek,  they  collectively  force  their  way 
through  Dan’s  mountain.  It  is  where  these  disrup¬ 
tions  of  the  mountains  have  occurred,  that  coal  is 
observable  on  their  faces.  With  the  mouth  of  Savage 
as  a  centre ,  and  a  radius  of  5  or  6  miles ,  a  circle 
could  be  described ,  comprising  what  may  be  termed  the 
heart  of  the  coal  district*  The  sides  of  the  mountain, 
in  several  instances,  present  a  declivity  so  abrupt, 

*Here,  the  Union  Company  and  Union  Potomac  Company  own  lands,  binding 
on  both  sides  of  the  Potomac,  from  8  to  9  miles. 


n 


that  coal  may,  by  the  intermediate  use  of  a  slide,  be 
thrown  directly  from  the  bed,  into  boats  lying  in  the 
canal  or  river. 

“From  the  base,  to  the  summit  of  these  mountains, 
four  distinct  and  separate  veins  of  coal  are  observa¬ 
ble,  one  of  2  feet  10  inches,  one  of  6  feet,  and  one 
from  10  to  14  feet,  increasing  in  thickness  as  they 
ascend;  the  highest  is  950  feet  above  the  mouth  of 
Savage,  and  1,272  above  Cumberland.  This  upper 
vein  has  been  opened  in  several  instances  on  the 
different  mountains,  and  discovers  itself  in  numer¬ 
ous  others,  where  torrents  have  removed  the  super¬ 
stratum  of  earth;  these  various  indications  on  the 
opposite  ridges,  prove  that  the  vein  is  on  one  and 
the  same  level.  The  coal  is  pure,  lustrous  and  rich; 
and  from  the  peculiar  advantages  attending  its  situation , 
can  be  furnished  for  one-half  cent ,  to  one  cent  per  bush¬ 
el,  at  the  bed.  The  larger  vein  is  supposed  to  be  the 
same  as  that  opened  near  Frostburg,  and  it  is  thought 
by  those  who  are  conversant  with  its  formation,  to 
increase  in  depth  as  it  progresses  southwardly.  In 
addition  to  coal,  Iron  ore  is  found  in  considerable 
quantities.  Timber  for  ordinary  purposes,  with  valua¬ 
ble  ship  timber,  abounds  throughout  this  district; 
white  pine  for  masts  and  spars,  it  is  said,  exists  in 
large  quantities.  The  surrounding  country,  including 
the  glades,  is  better  adapted  to  raising  sheep,  than 
perhaps  any  portion  of  the  United  States. 

“The  section  of  country  subject  to  these  observa- 


12 


tions  appears  to  possess  in  a  high  degree  all  the  de¬ 
siderata  to  render  it  a  manufacturing  country.  1st. 
A  sufficient  and  constant  water  power:  this  can  be 
found  both  on  the  North  Branch  and  Savage  rivers. 
2d.  A  healthy  and  salubrious  climate,  with  subsistence 
cheap  and  plentiful:  for  manufacturing  establishments, 
these  circumstances  are  of  primary  importance,  as 
they  affect  in  an  eminent  degree  the  price  of  labor. 
3d.  A  position  where  materials  abound  in  the  vicinity 
of  the  works  that  will  require  their  consumption:  this 
is  also  an  important  consideration,  as  a  difference  of 
two  or  three  cents  the  bushel  in  the  article  of  coal, 
alone,  will  occasion  the  difference  of  several  thousand 
dollars  per  annum,  in  extensive  manufactories;  besides 
the  fact,  demonstrated  by  experience,  that  it  is  cheap¬ 
er  to  transport  the  articles  manufactured  than  the 
materials,  in  the  ratio  of  10  to  1.” 

“The  advantages  of  this  water  conveyance  would 
command  not  only  the  freight  of  the  above  enumera¬ 
ted  heavy  articles,  but  also  the  trade  of  an  extensive 
back  country,  comprising  part  of  Alleghany  county 
(Md.)  and  several  counties  in  Virginia.” 

Extracts  from  Judge  Robert's  remarks ,  Sept.  1829. 

“On  the  advantages  of  this  navigable  feeder,*  as 
enumerated  by  Mr.  Cruger,  in  his  report,  herewith 
presented,  I  would  observe,  that  while  its  location 
was  going  on,  I  spent  some  time  in  viewing  the  coun- 


*  A  Canal  from  the  mouth  of  Savage  to  Cumberland, 


13 


try,  accompanied  by  Mr.  Cruger,  for  several  miles 
around,  in  the  vicinity  of  Westernport  and  Savage, 
and  from  the  information  thus  obtained,  and  from  a 
number  of  gentlemen,  respectable  for  their  intelligence 
and  knowledge  of  that  section  of  country,  who 
accompanied  us,  I  am  well  convinced  of  the  great 
importance  this  Canal  would  be  to  that  section  of 
Maryland  and  Virginia,  in  an  agricultural,  commer¬ 
cial,  and  manufacturing  point  of  view.  But  the 
greatest  amount  of  business  on  the  Canal  would  be 
derived  from  the  Coal,  the  Iron,  and  the  Lumber, 
which  so  much  abounds  in  that  region  of  country. 
The  termination  of  this  Canal  at  Savage  would  be 
in  the  centre  of  a  body  of  coal,  which  might  be 
brought  to  it  by  branch  rail-roads,  from  the  head  of 
the  Potomac,  about  thirty  miles,  and  from  eight  to 
ten  miles  up  George’s  Creek,  to  Westernport.  The 
coal  district,  thus  accommodated,  would  be  not  less 
than  five  miles  w  ide,  covering  a  surface  of  more  than 
two  hundred  square  miles.  Over  at  least  one-fifth 
of  this  it  is  believed  the  thick  vein  of  coal  extends, 
which  measures,  where  it  is  opened,  at  least  thirteen 
feet  thick.  But  the  coal  mines  that  could  be  opened, 
within  five  miles  of  Westernport  and  Savage,  would 
yield  coal  to  an  immense  amount,  as  each  square 
mile  of  the  great  vein  alone  would  yield  more  than 
two  hundred  and  eighty  millions  of  bushels  of  coal, 
or  ten  millions  of  tons. 

Iron  ore  of  excellent  quality  is  said  to  abound  in 


14 


this  coal  district;  and,  with  the  facilities  of  a  canal 
transportation,  together  with  the  cheapness  of  bitumi¬ 
nous  coal,  charcoal,  and  subsistence  in  a  very  healthy 
country,  would  be  an  inducement  to  the  enterprising 
of  our  citizens  to  extend  the  manufacture  of  Iron  to  a 
great  amount,  and  thereby  improve  and  give  great 
value  to  the  water  power,  that  might  be  easily  crea¬ 
ted  on  Savage  river  and  the  Potomac,  for  all  the 
manufacturing  and  mechanical  purposes  of  a  very 
extensive  population.”  *  *  *  *  * 

“It  is  ascertained  that  the  veins  of  coal  are  from 
two  to  five  feet  thicker  near  Westernport  and 
Savage,  than  they  are  around  Frostburg,  and  that 
they  become  much  thicker  proceeding  up  the  Poto¬ 
mac  to  its  sources;  so  that  Westernport  and  Savage 
seem  to  be  nearly  central  in  the  great  coal  district  of 
George’s  Creek  and  the  Potomac.” 

And  in  a  Report  made  Oct .  1838,  by  Maj.  Douglass , 
late  Professor  of  Civil  Engineering  at  West  Point ,  he 
says: 

“Of  the  Coal  veins  ascertained,  the  lowest  is  that 
of  Burns’  mine,  on  the  Virginia  side  of  the  Potomac 
near  Westernport,  three  and  a-half  feet  thick.* 

“Next  after  this,  follow  two  small  veins  of  one  and 
a  half  and  om  foot  respectively — visible,  one  at  low 
water,  and  the  other  about  thirty  feet  above,  near 
the  mouth  of  Savage. 

*  “This  was  the  only  vein  in  this  part  of  the  system  which  it  was  not  in  my 
power  to  examine  personally.  It  was  described  to  me  by  the  son-in-law  of  Mrs. 
Burns,  as  being  four  and  a-half  feet  thick,  but  to  guard  against  error  I  have  set  it 
down  at  three  and  a  half. 


15 


“Sixty  feet  above  this,  is  Brant’s  lower,  or  Three 
foot  vein,  and  about  forty  feet  still  higher,  the  upper 
or  Six  foot;  both  visible  at  Brant’s  mines,  near  the 
mouth  of  Savage,  and  at  several  positions  on  the 
Potomac,  and  on  George’s  Creek  near  Westernport. 

“The  next  following  interval  of  two  hundred  feet 
was  only  explored  to  the  height  of  one  hundred  above 
the  six  foot  vein,  in  which  distance  it  shows  but  one 
thin  vein  of  six  inches.  It  is  followed  however  by  a 
three  foot  vein  of  superior  coal,  visible  on  the  hill 
side,  ascending  the  State  road,  northeastwardly  from 
the  mouth  of  Savage. 

“Another  unexplored  interval  of  one  hundred  and 
eighty  feet,  then  brings  us  to  a  vein  (not  less  than) 
three  feet  thick,  which  crops  out  on  Moore’s  run  and 
George’s  creek  respectively,  about  a  mile  above  their 
confluence.  Above  this,  a  vein  of  one  foot  is  seen  just 
above  the  water  of  George’s  creek,  near  Shaw’s 
mill,  and  a  little  further,  another  of  two  feet  nine 
inches. 

“The  next  vein,  after  another  unexplored  interval 
of  (say)  one  hundred  and  fifty  feet,  is  the  one  foot  vein 
at  the  bottom  of  the  Lonaconing  section;  then  follow, 
in  the  order  of  that  section,  two  veins  of  two  feet  each , 
with  an  interlayer  of  iron  ore.  Then  the  eight  foot 
vein  so  called,  measuring  about  seven.  Then  the  big, 
or  Ten  foot  vein.  Then  a  one  foot  vein.  Then  a 
four  foot  vein,  slightly  subdivided  by  a  stratum  of 
shale.  Then,  after  an  interval  of  one  hundred  and 


16 


fifty-three  feet,  only  partially  explored,  a  vein  of  Two 
Feet.  Then  another,  (Four  Foot  Vein  so  called,) 
measuring  about  three  and  a  half:  and  finally,  a  Two 
Foot  Vein.  Most  of  these  last  named  are  visible  at 
so  many  points,  and  are  so  well  known,  that  I  have 
not  thought  it  necessary  to  particularize  localities. 

“It  appears  then  on  summing  up,  and  as  we  are 
now  able  to  judge,  that  there  are  at  least  twenty 
veins  intersected  by  the  waters  of  George’s  Creek, 
and  in  like  manner  by  the  other  waters  between 
their  sources  and  their  debouch  from  the  Coal  Basin. 
Of  these,  ten  are  of  workable  dimensions,  from  two 
feet  nine  inches  to  twelve  feet,  and  three  others  of  infe¬ 
rior  dimensions,  also  workable  from  their  vicinity  to 
ore  beds  or  other  veins  of  Coal,  making  an  aggregate 
of  about  fifty-three  feet  workable,  (sixty-two  feet  in 
all,)  in  a  depth  of  eleven  hundred  and  fifty  feet.* 

“The  specific  gravity  of  specimens  from  the  interior 
of  the  mine  average  1.33:  that  of  the  English  coals 
being  generally  about  1.28;  it  exceeds  the  latter,  there¬ 
fore,  in  weight,  from  three  to  three  and  a  half  pounds 
to  the  bushel,  and  runs  about  twenty-six  heaped 
bushels  to  the  ton. 

“The  proportion  of  its  constituent  elements,  accord¬ 
ing  to  various  analyses,  and  in  different  specimens,  is 

*  “It  is  interesting  to  remark,  by  way  of  comparison,  that,  the  veins  of  the 
great  Newcastle  Colleries,  although  more  extensive  in  area  than  those  under 
consideration,  are  greatly  inferior  to  them  in  number  and  thickness.  There  are 
for  instance,  but  five  workable  veins — none  of  them  exceeding  six  feet  in  thick¬ 
ness  and  averaging  only  four  and  a  quarter  feet. 


17 


stated  from  reports  of  Professor  Silliman  and  Major 
Hughes,  to  the  Maryland  Mining  Company,  as  fol¬ 
lows,  viz: 


Carbon. 

Bitumen. 

Earths 

or 

Water. 

By  the  recent  analysis  of  Professor  Silliman, 

82.00 

13.34 

Oxides. 

3.00 

1.66 

“  Dr.  Jones, 

81.00 

15.00 

4.00 

“  Do.  Do.  (another  specimen,) 

78.00 

19.00 

3.00 

“  Dr.  Jackson  and  Dr.  Hays,  (nearly  alike,) 
averaged. 

77.45 

16.00 

5.30 

“  Dr.  Jones  on  an  irridecent  specimen. 

72.50 

22.50 

5.00 

And  finally,  by  that  of  Professor  Ducatel,  on 
a  specimen  from  Frost’s  mine. 

70.00 

20.50 

6.00 

3.50 

“The  proportion  of  combustible  matter,  indicated 
by  these  different  analyses,  varies  from  90  1-2  to  97 
per  cent.,  averaging  94,  and  deducting  a  small  frac¬ 
tion  for  water,  the  average  residium  or  ashes,  is  found 
to  be  only  four  and  one  half  per  cent. 

“As  an  agent  for  the  generation  of  steam ,  it  is 
ascertained  to  be  much  more  efficient  than  either  the 
Anthracites,  on  one  hand,  or  the  fat  Bituminous 
Coals  on  the  other — which  confirms,  in  this  respect, 
its  analogy  with  the  South  Welch,  Llanelli  and 
Swansea  Coals.* 

“According  to  the  statement  of  Dr.  Jackson,  of 
Boston,  it  produces  32  per  cent,  more  steam  than  the 
Newcastle  Coal;  and  by  a  recent  experiment  in  the 
Anthracite  Locomotive  Engines  of  the  Baltimore  and 
Ohio  Rail-road,  it  is  shown  to  be  40  per  cent,  more 

*These  are  the  only  coals  which  have  yet  been  approved  in  use,  for  Working 
the  Great  Steam  Engine  Furnaces  of  the  Cornwall  mines — and  there  is  reason 
to  believe  that  the  extraordinary  performance  of  those  engines  is  in  no  small  de¬ 
gree  dependent  upon  the  superior  character  of  this  fuel, 
o 

o  Jm  . 


18 


effective,  as  a  steam  agent,  than  Anthracite.  We 
learn,  then,  from  a  comparison  of  these  results,  that 
it  must  be  at  least  three  and  a  half  times  more  effica¬ 
cious  than  dry  Pine  wood. 

“As  a  material  for  the  manufacture  of  Coke,  it  has 
also  been  found  superior  to  most  other  coals.  In  this 
respect  it  ranks  with  the  Welch  coals  of  Merthyr 
Tydvil  and  the  neighboring  localities,  which  furnish 
the  fine  silvery  white  Coke,  of  that  country,  in  the 
proportion  of  75  to  86  per  cent.,  by  weight.  It  swells 
more  than  those ,  however,  in  the  operation  of  Coking, 
and  yields,  consequently,  a  larger  quantity  by  measure. 

“It  has  also  been  used  extensively  and  with  great 
advantage  as  a  fuel  for  Lime-burning,  sometimes  even 
in  open  heaps  as  in  Wales,  without  the  aid  of  a  kiln; 
sixteen  bushels  of  broken  Limestone  being  a  good 
proportion  for  one  bushel  of  slack  coal. 

“As  a  material  for  the  manufacture  of  Gas,  its 
analogy  with  the  Cannel  and  Swansea  Coals  is  a 
sufficient  evidence  of  its  superiority,  and  considering 
also  its  Coking  propensity,  it  can,  doubtless,  be  used 
in  this  branch  of  business  with  more  profit  than 
either.* 

“But  the  great  distinguishing  feature  of  this  coal 
and  which  renders  it  even  superior  to  most  of  those 
with  which  we  have  compared  it,  is  its  freedom  from 
sulphur 

*The  Cannel  and  Swansea  Coals  produce  the  most  brilliant  of  the  Coal 
gases,  and  in  the  greatest  quantity,  but  being  less  profitable  than  other  Coals  in 
the  production  of  Coke,  they  are  of  course  less  used.  The  coal  of  the  Frost- 
burg  mines  would  be  preferable  in  this  respect. 


19 


It  has  been  already  stated  that  the  lands  of  these 
Companies  nearest  to  Cumberland  approach  within 
seven  miles  of  it,  and  as  the  coal  crops  out  on  the 
east  side  of  Dan’s  Mountain,  the  coal  can  be  delivered 
from  that  point  cheaper  than  from  any  other  part  of 
the  coal  field.  Major  Douglass,  speaking  of  the 
mines  near  Cumberland,  and  of  the  relative  cost  of 
transportation  from  the  mines  to  that  place,  as  a 
common  starting  point,  says: 

“  It  appears,  then,  in  comparing  these  three  modes 
of  conveyance,  that  the  relative  expense  per  ton,  es¬ 
timated  in  each  case  to  Cumberland,  will  be  as  fol¬ 
lows,  viz ; 

1st.  From  Dan’s  Mountain,  by  the  plan  suggested,  16f 
2d.  From  Westernport,  by  the  Canal ,  18f 

3d.  From  the  extreme  head  of  either  of  the  con¬ 
templated  Rail  Roads,  35cts. 

— the  last  being  more  than  double  the  first,  and  ex¬ 
ceeding  the  second  by  a  difference  of  sixteen  and 
one-fourth  cents. 

“  It  is  not  impossible  that  a  part  of  this  difference 
may  be  obviated  by  some  modification  of  the  plans  of 
the  proposed  Railways;  and  another  part  will  of 
course  be  taken  off,  as  to  those  places  which  are 
nearer  Cumberland  than  the  extreme  head  of  the  Rail¬ 
ways ;  but  still,  compared  with  any  situations  within 
the  limits  of  the  Coal  Field,  the  Canal  must  be  con¬ 
sidered  as  enjoying  decided  advantages 

From  these  premises  it  follows,  that  the  district, 


20 


lying  along  the  ridge  and  western  slope  of  Dan’s 
mountain,  stands  at  the  head  of  the  first  class  of 
positions  in  point  of  eligibility.  But  if  we  consider 
the  tendency  of  trade  generally  to  accumulate  near  a 
head  of  navigation ;  and  the  peculiar  fitness  of  a  large 
canal  for  a  heavy  Coal  and  Iron  business,  we  shall 
see  that  the  vicinity  of  Westernport,  notwithstanding 
the  difference  of  two  cents  per  ton  against  it,  is  en¬ 
titled  to  stand  very  nearly  upon  the  same  footing  as 
the  district  mentioned.  These  two,  then,  embracing 
collectively  the  east  side  of  the  Coal  valley  from  Brad- 
dock’s  Run  to  Westernport,  and  both  sides  of  the 
Potomac,  (to  the  distance  of  a  mile,)  from  the  gorge 
of  Dan’s  mountain  to  the  mouth  of  Savage  river  in¬ 
clusive,  will  constitute  the  First  District  in  order  of 
importance ;  and  it  may  be  assumed  with  confidence, 
that  any  association  or  individual,  who  shall  acquire 
possession  of  this,  and  proceed  judiciously  to  develop 
its  resources,  in  the  connexion  stated,  will  stand,  with 
a  decided  advantage,  between  every  other  operator 
and  the  market. 

“It  happens,  fortunately,  that  a  large  portion  of 
the  lands  within  this  precinct,  are  owned  by  these 
Companies,  that  is  to  say,  the  parts  thus  included  are 
estimated  at  about  Twenty  Thousand  Acres — con¬ 
stituting  probably  seven-eights  of  the  whole  territory 
embraced  in  this  class,  and  may  be  estimated  to  con¬ 
tain,  in  good  workable  condition,  not  less  than  Four 
Hundred  Millions  of  Tons  of  Coal.” 


21 


“  The  veins  of  Iron  Ore  constitute  a  part  of  the  Coal 
measures,  and  are  found  in  a  variety  of  mineral  forms, 
interlaying  the  other  strata  in  various  parts  of  the 
system.  Among  the  upper  layers,  for  example,  they 
form  several  rich  beds  of  Brown  Iron  Stone,  called 
(perhaps  erroneously)  Brown  Hematite;  one  of  the 
veins  or  beds  of  which,  opened  by  Mr.  Howell  on  the 
face  of  the  Savage  mountain,  is  three  feet  in  thick¬ 
ness,  with  veins  of  Coal  above  and  below  it — that 
above  separated  from  the  iron  only  by  a  stratum  of 
soft  Shale.  Other  rich  veins  of  various  descriptions 
of  argillacious  ore,  resembling  the  best  Welch  ores, 
occur  below  the  Eight-foot  Vein,  and  between  the 
latter  and  the  Big  Vein.  Others  again  of  the  nodular 
kind,  and  a  reddish  colored  concretion  very  rich  and 
heavy,  appear  in  connexion  with  Brant’s  veins  near 
the  bottom  of  the  section,  and  doubtless  others  exist 
in  various  parts  of  the  strata,  which  have  not  yet  been 
detected.  Of  those  which  have  been  identified  and 
measured,  however,  the  aggregate  thickness  is  not  less 
than  sixteen  feet,  which,  allowing  for  the  difference  of 
specific  gravity,  would  give  nearly  the  same  weight 
of  Iron  ore,  as  of  Coal,  and  this  we  estimate  to  be 
about  60,000  tons  to  the  acre. 

It  will  be  seen  by  reference  to  the  accompanying 
Map,  that  the  lands  bordering  on  the  river  have  been 
secured,  with  a  few  exceptions,  not  noted,  for  obvious 
reasons.  If  we  take  but  one  half  of  the  above 
average  estimate,  or  30,000  tons  to  the  acre,  on 


22 


20,000  acres  of  these  lands,  they  will  give  the 
round  quantity  of  six  hundred  millions  of  tons  of 
Coal ,  to  say  nothing  of  the  Iron  ore ;  and  if  we 
allow  but  one  cent,  per  bushel,  it  gives  us  three 
hundred  dollars  per  acre,  as  the  value  of  the  land. 
But  there  is  another  element  of  value  in  these  lands — 
it  is  their  location.  Boats  that  leave  Baltimore  may 
be  passed  into  the  lower  mine,  and  be  laden  with 
Coal  in  the  mine.  The  expense  of  transportation  on 
a  rail  road  is  estimated  at  three  cents ,  per  ton,  per  mile  ; 
multiply  thirty  thousand  tons  by  three  cents,  and  it 
will  be  found  that  the  expense  of  transportation  will 
be  at  the  rate  of  nine  hundred  dollars  per  acre,  for 
each  mile ; — and  that  mines  which  are  distant 
five  miles  from  the  river,  will  yield  four  thousand 
five  hundred  dollars  less,  per  acre,  than  those  that 
bind  on  the  river,  as  this  will  be  the  actual  differ¬ 
ence,  in  the  cost  of  placing  their  Coal  in  boats  on  the 
Canal. 

We  are  aware  that  the  first  enquiry  which  will 
present  itself  to  the  mind  is,  if  these  representations 
be  correct ;  how  is  it  possible  that  these  Lands  were 
so  long  in  the  market,  and  that  an  interest  in  them  is 
now  offered  at  a  very  low  price  ?  As  to  the  accuracy 
of  the  representations,  the  reader  is  referred  to  the 
disinterested ,  and  concurring  statements  of  the  En¬ 
gineers,  whose  reports  are  quoted — to  the  reports  of 
the  state  geologist — to  many  respectable  persons  in 
Baltimore,  who  have  seen  these  lands,  and  can  corro- 


23 


borate  their  representations;  and  in  explanation  of 
the  low  rate  at  which  new  parties  may  become  in¬ 
terested  in  the  stock  representing  these  lands,  it  is  a 
material  fact,  to  be  borne  in  mind,  that  the  purchases 
were  chiefly  made  before  the  large  subscription  of  the 
State  to  the  Canal,  gave  assurance  that  the  mineral 
could  be  soon  and  cheaply  brought  to  market — and 
that  it  is  now  proposed  to  sell,  only  so  much  as  will  en¬ 
able  these  companies  to  pay,  what  they  owe  on  their 
lands;  and  upon  conditions  that  will  attract  the 
capital  desired,  to  develop  these  immense  deposits  of 
Coal  and  Iron. 


5 

. 


' 

. 


\ 


m 


4+ 


0 


CHARTERS 


UNION  POTOMAC  COMPANY, 

AND  THE 

UNION  COMPANY, 

WITH  A 

DESCRIPTION  OF  THEIR 


Coal  au&  Jrou  JEituo, 

SITUATE  IN 

HAMPSHIRE  COUNTY,  VIRGINIA, 

AND  IN 


ALLEGHANY  COUNTY,  MARYLAND. 


BALTIMORE: 

PRINTED  BY  JOHN  MURPHY, 

146  MARKET  STREET. 


184  0. 


' 

, 

r  ' 

,  _  , 

* 


' 

- 

,  ’  •  .  .  - 


VIRGINIA  CHARTER. 


AN  ACT 

TO  INCORPORATE  THE 

UNION  POTOMAC  COMPANY. 


Whereas  it  is  represented  to  the  General  Assembly 
of  the  State  of  Virginia  that  Duff  Green,  and  his 
associates  have  purchased  several  tracts  of  land  near 
the  mouth  of  Savage  river,  containing  valuable  mines 
of  coal,  iron,  and  other  minerals,  and  that  great  ad¬ 
vantage  will  arise  to  the  people  of  this  State  by 
working  the  same,  and  the  construction  of  a  canal  or 
slack-water  navigation  with  a  railroad  or  railroads, 
connecting  their  several  mines  with  the  Chesapeake 
and  Ohio  canal,  the  Baltimore  and  Ohio  railroad,  or 
such  other  railroad  or  railroads  as  now  are,  or  may 
hereafter  be,  authorised  by  this  State  :  therefore, 
Section  1.  Be  it  enacted  by  the  General  Assembly , 
That  Duff  Green,  James  Lyons,  Beverly  R.  Well- 
ford,  William  M.  Green,  Richard  K.  Cralle, 
Archibald  M.  Green,  and  Robert  Hord,  and  all  and 
every  person  or  persons  who  may  become  subscribers 
according  to  the  mode  hereinafter  prescribed,  their 
successors  and  assigns  shall  be,  and  they  are  hereby 
incorporated  by  the  name  of  the  Union  Potomac 


4 


VIRGINIA  CHARTER. 


Company,  for  the  purposes  and  with  the  privileges 
and  immunities  hereinafter  described,  defined  and 
granted,  and  by  that  name  shall  be  a  body  politic 
and  corporate,  in  fact,  and  in  law,  and  may  sue  and 
be  sued,  plead  and  be  impleaded,  in  all  courts  of 
justice  and  elsewhere.  And  the  said  company  shall 
have  power  and  authority,  at  any  time  after  the  pass¬ 
age  of  this  act,  to  purchase,  receive  in  donation,  pos¬ 
sess  and  enjoy,  retain,  demise,  grant,  lease,  alien  and 
sell  under  the  restrictions  and  limitations  hereinafter 
mentioned,  lands,  heriditaments  and  water  privileges, 
rights,  goods,  chatties,  and  effects,  necessary  or  use¬ 
ful  for  the  construction,  erection,  and  carrying  on  of 
a  canal  or  slack-water  navigation,  and  a  railroad  or 
railroads  connecting  their  mines  and  manufactories 
with  the  Chesapeake  and  Ohio  canal,  the  Baltimore 
and  Ohio  railroad,  or  any  other  railroad  or  railroads 
which  now  are,  or  may  hereafter  be,  authorised  by 
this  state,  and  for  the  construction,  erection,  and 
carrying  on  of  mills  and  manufactories  of  iron  and 
other  articles,  and  for  the  opening  and  working  of 
their  said  mines,  and  for  the  transportation  of  the  pro¬ 
ducts  thereof  to  market,  and  for  the  successful  prose¬ 
cution  of  the  powers  and  privileges  herein  granted : 
provided,  the  said  company  shall  at  no  time  possess 
in  this  State  more  than  twenty  thousand  acres  of 
land.*  And  the  said  company  shall  have  perpetual 


*  Extended  by  a  Supplemental  Act  to  40,000  acres. 


VIRGINIA  CHARTER. 


5 


succession,  and  power  to  make  and  use  a  common 
seal,  the  same  to  change  and  renew  at  pleasure,  and 
to  adopt  and  carry  into  execution  such  laws,  or¬ 
dinances  and  regulations  as  shall  by  its  directors  be 
adjudged  necessary  and  convenient  for  the  govern¬ 
ment  and  management  of  the  said  company,  and  the 
same  to  change,  alter,  repeal,  annul,  and  re-enact ; 
provided  the  same  be  not  contrary  to  the  constitution 
and  laws  of  the  United  States  or  of  this  State. 

Sect.  2.  And  be  it  further  enacted ,  That  the  capital 
stock  of  the  said  company  shall  consist  of  ten  thousand 
shares  of  one  hundred  dollars  each,  of  which  the  lands 
and  mines  of  the  said  Duff  Green,  and  his  associates, 
shall  continue  a  part,  at  a  price  to  be  agreed  upon  by 
the  commissioners  authorised  to  receive  subscriptions 
to  the  capital  stock  of  the  said  company,  and  the 
directors  of  the  said  company  shall  have  power  to  in¬ 
crease  their  capital  to  such  an  amount  as  may  be 
found,  from  time  to  time,  convenient  and  necessary 
for  the  accomplishment  of  the  objects  of  their  in¬ 
corporation;  provided  the  same  does  not  exceed 
twenty  thousand  shares. # 

Sec.  3.  And  be  it  further  enacted ,  That  the  subscrip¬ 
tion  to  the  said  capital  stock  of  the  company,  shall  be 
opened  under  the  direction  of  Duff  Green,  James 
Lyons,  Beverly  R.  Wellford,  William  M.  Green, 
Richard  K.  Cralle,  Archibald  M.  Green,  and  Robert 


*May  be  increased  to  70,000  shares.  See  Supplement. 


6 


VIRGINIA  CHARTER, 


Hord,  or  a  majority  of  them  at  such  time  and  place  as 
they  shall  designate,  giving  at  least  ten  days  notice  in 
one  or  more  of  the  newspapers  printed  in  the  cities  of 
Washington,  Baltimore  and  Richmond,  and  that  each 
subscriber  shall  thereupon  pay  to  the  said  commis¬ 
sioners  ten  dollars  on  each  share. 

Sec.  4.  And  be  it  further  enacted ,  That  the  man¬ 
agement  of  the  business  and  concerns  of  the  said 
company  shall  be  vested  in  nine  directors,  five  of 
whom  shall  be  a  quorum  to  do  business. 

Sec.  5.  And  be  it  further  enacted ,  That  in  all 
elections  and  on  all  questions  concerning  the  manage¬ 
ment  and  business  of  said  company,  each  share  shall 
be  entitled  to  one  vote,  and  that  the  directors  shall, 
at  their  first  meeting  or  as  soon  thereafter  as  may  be, 
appoint  one  of  their  number  to  be  President,  and 
shall  also,  in  the  same  manner,  appoint  a  Treasurer 
and  such  other  officers  and  agents  as  they  may  see 
proper,  for  conducting  the  affairs  of  the  company, 
who  shall  severally  hold  their  offices  during  the  plea¬ 
sure  of  said  directors,  who  may  demand  and  require 
of  the  said  officers,  or  any  of  them,  security  for  the 
faithful  discharge  of  their  respective  duties  in  such 
manner  and  form  as  they  may  think  proper. 

Sec.  6.  And  be  it  further  enacted ,  That  the  first 
board  of  directors  shall  be  chosen  under  the  superin¬ 
tendence  of  the  commissioners  before  named,  or  a 
majority  of  them,  at  such  time  and  place  as  they  may 
designate,  to  continue  in  office  for  one  year,  and  that 


VIRGINIA  CHARTER. 


7 


the  subsequent  elections  for  directors  shall  be  holden 
annually  thereafter  at  a  meeting  of  the  stockholders 
at  such  time  and  place  as  the  directors  for  the  time 
being  may  designate,  they  giving  at  least  twenty 
days  notice  in  at  least  one  newspaper  printed  in  the 
cities  of  Richmond  and  Baltimore;  and  if  an  election 
of  directors  should  not  be  made  on  the  day  when,  in 
pursuance  of  this  act,  it  ought  to  be  made,  the  corpo¬ 
ration  shall  not  for  that  cause  be  considered  as  dis¬ 
solved,  but  it  shall  and  may  be  lawful  to  hold  such 
election  at  any  other  time,  giving  public  notice  there¬ 
of  in  manner  aforesaid;  and  until  such  election  be 
made,  the  directors  for  the  time  being  shall  continue 
in  office;  and  in  case  of  vacancy  in  the  office  of  direc¬ 
tor,  by  death,  resignation,  removal  or  otherwise,  the 
other  directors  may  supply  such  vacancy  or  vacancies, 
from  time  to  time,  for  the  unexpired  term  of  the  di¬ 
rector  or  directors  whose  place  is  so  supplied. 

Sec.  7.  And  be  it  farther  enacted ,  That  it  may  be 
lawful  for  the  said  company  to  erect  a  canal  or  slack- 
water  navigation  from  the  Chesapeake  and  Ohio 
Canal,  in  and  along  and  near  the  bank  of  the  Poto¬ 
mac,  to  such  point  or  points  thereon  as  they  may 
deem  it  expedient  to  terminate  the  same;  and  also  to 
construct  such  railway  or  railways  from  the  said 
mines  or  manufactories  to  the  said  canal  or  slack- 
water  navigation,  or  to  the  Baltimore  and  Ohio  rail¬ 
road,  or  to  any  other  railroad  authorized  by  this 
State,  as  they  may  deem  necessary  for  the  successful 


8 


VIRGINIA  CHARTER. 


working  and  carrying  on  of  their  said  mines  and 
manufactories. 

Sec.  8.  And  be  it  further  enacted ,  That  it  shall  be 
lawful  for  the  said  company,  from  time  to  time,  to 
construct,  make,  erect,  and  form,  such  embankments, 
reservoirs,  aqueducts,  locks,  wiers,  gates,  ways, 
bridges,  and  other  works,  as  the  said  directors  may 
deem  convenient  and  necessary  for  the  uses  and  pur¬ 
poses  aforesaid,  and  to  repair  and  improve  the  same 
for  the  better  carrying  on  and  management  thereof. 
And  it  shall  and  may  be  lawful  for  said  company, 
by  the  president,  directors,  officers,  agents,  engineers, 
superintendents,  or  contractors,  or  any  other  person 
or  persons  by  them  employed,  from  time  to  time,  and 
at  all  times  hereafter,  to  enter  upon  all  lands,  wheth¬ 
er  covered  with  water  or  not,  for  the  purposes  con¬ 
templated  by  this  act,  doing  no  unnecessary  damage; 
and  when  a  location  of  the  said  canal,  or  slack- 
water  navigation,  and  the  said  railroad  or  railroads 
or  other  improvements,  shall  be  determined  by  the 
directors,  or  a  majority  of  them,  from  time  to  time, 
and  a  survey  thereof,  showing  the  lands  necessary 
for  the  same,  shall  have  been  made  by  an  engineer  or 
other  person  employed  by  said  company,  and  deposit¬ 
ed  in  the  office  of  the  county  court  of  the  county  in 
which  the  land  lies,  then  it  shall  be  lawful  for  the 
said  company,  their  agents,  engineers,  contractors, 
superintendents,  or  other  person  or  persons  employed 
by  them,  to  enter  upon,  take  possession  of,  and  use 


VIRGINIA  CHARTER. 


9 


all  and  singular  such  lands  and  premises,  subject  to 
such  compensation  to  he  made  therefor  as  is  herein¬ 
after  directed. 

Sec.  9.  And  be  it  further  enacted.  That  when  the 
directors,  aided  by  a  competent  engineer,  shall  have 
determined  on  the  location  of  said  canal,  slack-water 
navigation,  railroad  or  railroads,  or  other  improve¬ 
ments,  they,  or  a  majority  of  them,  shall  make  and 
sign  a  description  of  the  same,  and  cause  it  to  he 
filed  in  the  office  of  the  county  court  of  the  county 
in  which  the  land  lies,  which  being  done,  and  not 
before,  the  said  company  may  take  possession  of 
such  lands  as  they  may  not  have  acquired  by  pur¬ 
chase,  and  which  may  be  necessary  for  the  construc¬ 
tion  of  said  canal,  slack-water  navigation,  railroad, 
railroads,  or  other  improvements  as  aforesaid,  together 
with  all  other  lands  and  premises  as  may  be  convenient 
and  necessary  for  the  uses  and  purposes  aforesaid, 
subject  to  the  restrictions  and  conditions  hereinafter 
provided. 

Sec.  10.  And  be  it  further  enacted ,  That  where  any 
lands  that  may  be  useful  for  the  said  improvements 
shall  not  be  made  a  free  gift  by  their  owner  or 
owmers  to  said  company,  then  said  company  shall 
pay  to  the  owner  or  owners  of  such  lands  such  com¬ 
pensation  as  shall  be  mutually  agreed  upon  between 
them;  and  in  case  the  said  company  cannot  agree 
with  such  owner  or  owners  in  relation  thereto,  or  if 
such  owner  or  owners  be  feme  covert,  under  age,  non 
2 


10 


VIRGINIA  CHARTER. 


compos  mentis,  or  reside  out  of  the  State,  then  it 
shall  and  may  be  lawful  for  the  said  company,  and 
they  are  hereby  required  without  delay,  from  time  to 
time,  and  at  all  times,  to  cause  a  survey  or  surveys 
and  a  map  or  maps  to  be  made  of  any  of  the  land 
requisite  and  useful  for  the  purposes  aforesaid,  or 
appropriated  or  intended  to  be  appropriated  as  afore¬ 
said,  and  the  quantity  thereof,  and  the  same  survey 
or  map  to  exhibit  to  the  judge  of  the  circuit  superior 
court  for  the  county  in  which  the  same  is  situated, 
giving  at  least  ten  days  notice  in  writing  to  the  par¬ 
ties  of  the  time  and  place  of  such  exhibition,  by  serv¬ 
ing  the  same  on  such  owner  or  owners,  and  every 
of  them,  if  resident  in  the  State  at  the  time,  and,  if 
not,  by  advertising  the  same  in  one  or  more  news¬ 
papers  published  in  the  city  of  Richmond  or  Wash¬ 
ington  for  at  least  sixty  days: — And  thereupon  it 
shall  be  the  duty  of  the  said  judge  to  certify  such 
survey  or  map  under  his  hand,  and  cause  the  same  to 
be  filed  and  recorded  in  the  office  of  the  court  of  the 
county  in  which  the  land  lies,  there  to  remain  as  a 
public  record,  and  also  at  the  same  time  and  place, 
by  writing  under  his  hand,  to  appoint  five  discreet 
and  disinterested  freeholders  of  the  State  of  Virginia 
as  appraisers,  who  shall,  before  they  enter  upon  the 
duties  of  their  appointment,  severally  take  and  sub¬ 
scribe  an  oath  or  affirmation,  before  some  person 
authorized  to  administer  oaths,  faithfully  and  impar¬ 
tially  to  perform  the  duties  required  of  them  by  this 


VIRGINIA  CHARTER. 


11 


act;  and  it  shall  be  the  duty  of  the  said  appraisers,  or 
a  majority  of  them,  if  requested  so  to  do  by  the 
owner  or  owners,  or  by  the  company ,  to  make  a  just 
and  equitable  estimate  and  appraisement  of  the 
lands  and  also  of  the  damages,  if  any  there  be,  that 
each  owner  may  sustain,  for  the  uses  and  purposes 
aforesaid,  the  said  appraisers  giving  ten  days  notice, 
in  manner  aforesaid,  of  the  time  and  place  of  meet¬ 
ing  to  make  such  appraisement,  and  shall  certify  the 
same  under  their  hands  and  seals,  acknowledging  the 
same  before  some  person  authorized  to  take  the 
acknowledgment  of  deeds,  and  shall  cause  the  same 
to  be  filed  and  recorded  in  the  office  of  the  county 
court  in  which  the  land  lies,  there  to  remain  as  a 
public  record.  And  the  said  company  shall,  before 
they  enter  upon,  take  possession  of,  or  use  the  said 
lands  and  premises,  except  for  the  survey  and  loca¬ 
tion  above  mentioned,  pay  or  tender  the  damages  so 
assessed,  to  the  person  or  persons  respectively  enti¬ 
tled  to  the  same,  or  in  case  such  owner  or  owners 
shall  be  feme  covert,  under  age,  non  compos  mentis, 
or  reside  out  of  the  State,  the  said  company  shall 
pay  the  same  into  the  circuit  superior  court  in  whose 
jurisdiction  the  land  lies,  to  be  disposed  of  under  the 
order  of  the  said  court,  according  to  the  respective 
rights  and  interests  of  the  proprietors,  agreeably  to 
law;  and  immediately  thereupon,  the  rights,  property, 
and  interests  of  the  person  or  persons  so  compensated 
and  paid,  in  and  to  the  premises  so  appropriated, 


12 


VIRGINIA  CHARTER. 


described,  and  paid  for,  shall  be  vested  in  the  said 
company: — And  if  default  be  made  in  such  payment, 
the  owner  or  owners  may  sue  and  recover  of  said 
company  the  amount  of  such  assessment,  or  bring  an 
action  of  ejectment  for  the  lands,  at  his  or  their 
option.  Provided,  that  for  good  cause  shown  by 
either  of  the  parties  within  ninety  days  from  the  filing 
of  said  assessment,  the  said  judge  in  court  at  the 
next  term  shall  order  a  re-assessment  to  be  made,  in 
manner  aforesaid,  which  shall  he  returned  to  and 
acted  upon  by  him  as  the  original  assessment  might 
be,  and  provided  also  that  either  party  feeling  them¬ 
selves  aggrieved  by  the  judgment  of  the  said  court 
upon  the  said  assessment,  may  appeal  therefrom  to 
the  court  of  appeals  in  the  manner  prescribed  by 
law  in  other  cases  of  appeal. 

Sec.  11.  And  be  it  further  enacted ,  That  the  capital 
stock  of  the  said  company  shall  be  deemed  personal 
property,  and  that  all  shares  of  stock  at  any  time 
owned  by  any  stockholder,  shall  be  transferable  on 
the  books  of  the  company  in  such  manner  as  the 
laws  shall  ordain,  but  all  debts  due  or  payable  to  the 
company,  and  all  outstanding  engagements  with  it, 
shall  be  satisfied  previously  out  of  said  stock,  before 
such  transfer  can  be  made,  and  before  any  dividend 
or  dividends  shall  be  paid  upon  such  share,  unless  by 
consent  of  the  directors.  And  when  the  company 
shall  be  formed,  the  stock  subscribed  shall  be  paid  in 
such  instalments  and  at  such  times  as  the  president 


VIRGINIA  CHARTER. 


13 


and  directors  shall  from  time  to  time  require ;  and  in 
default  of  payment,  the  directors  may  offer  at  public 
sale  so  many  of  the  shares  in  default  as  may  be  suffi¬ 
cient  to  discharge  the  sum  then  due  and  unpaid  on 
the  shares  thus  in  default,  and  the  purchaser  of  the 
shares  thus  sold  shall  become  a  stockholder,  and  be 
subject  to  the  same  rules  and  regulations,  and  entitled 
to  the  same  privileges,  rights,  and  emoluments,  as 
original  subscribers  under  this  act ;  provided,  no  pay¬ 
ment  shall  be  demanded  until  at  least  sixty  days 
notice  thereof  shall  have  been  given  in  some  news¬ 
paper  printed  in  the  city  of  Washington,  nor  shall  any 
share  be  sold  by  the  president  and  directors  as  herein 
authorized  without  twenty  days  like  notice  thereof. 

Sec.  12.  And  be  it  further  enacted ,  That  every 
director,  treasurer,  and  all  such  other  officers  as  the 
directors  may  require  so  to  do,  shall,  before  he  or  they 
act  as  such,  take  an  oath  or  affirmation  for  the  due 
and  faithful  execution  of  his  or  their  office. 

Sec.  13.  And  be  it  further  enacted ,  That  nothing  in 
this  act  shall  be  construed  to  impair  the  rights  of  any 
person  or  persons  to  an  action  against  said  company, 
their  agents,  wTorkmen,  or  servants,  for  any  damage 
done  to  his,  her,  or  their  lands,  heriditaments,  and 
premises,  by  the  construction  of  said  improvements, 
wdien  such  person  or  persons  have  not  been  agreed 
with  by  said  company,  or  their  damages  paid  or  satis¬ 
fied  by  the  said  company,  under  the  provisions  of  this 
act. 


14 


VIRGINIA  CHARTER. 


Sec.  14.  And  be  it  further  enacted ,  That  if  the  said 
canal  or  slack-water  navigation  be  not  commenced  in 
two  years,  and  the  same  shall  not  be  completed  to 
Cumberland  within  seven  years  from  the  passing  of 
this  act,  the  authority  to  construct  the  same  shall 
cease. 

Sec.  15.  And  be  it  further  enacted ,  That  this  act 
shall  be  a  public  act,  and  the  said  canal  and  other 
improvements  therein  comtemplated  shall  be  deemed 
public  works,  and  all  persons,  and  any  person  or  per¬ 
sons  who  shall  in  any  wise  damage  or  injure  the  same, 
shall  be  liable  to  be  proceeded  against  and  punished 
in  like  manner  as  if  the  injury  or  damage  had  been 
done  to  any  other  public  work ;  and  that  it  shall  be 
the  duty  of  the  president  and  directors  of  the  board 
of  public  works,  from  time  to  time,  to  prepare  and  fix 
a  tariff  of  tolls  and  rates  of  transportation,  which  it 
shall  and  may  be  lawful  for  the  said  company  to  ask 
and  receive  of  all  persons  before  they  shall  be  entitled 
to  use  the  said  canal,  slack-water  navigation,  or  rail¬ 
road  or  railroads,  respectively ;  and  to  this  end,  while 
the  said  works  are  in  progress,  and  annually  after  the 
same  shall  have  been  completed,  the  president  and 
directors  of  the  said  company  shall  report  to  the  pre¬ 
sident  and  directors  of  the  board  of  public  works 
a  statement  showing  the  amount  of  the  capital  stock 
expended  in  the  construction  of  the  said  canal  or 
slack-water  navigation,  and  of  the  said  railroad  or 
railroads,  the  amount  of  the  tolls  received  during 


VIRGINIA  CHARTER. 


15 


each  preceding  year,  the  expenses  and  charges  in¬ 
curred  during  the  same  period,  and  the  net  annual 
profit  or  loss  on  the  capital  so  expended,  and  if,  from 
this  statement  and  such  other  evidence  as  shall  be 
offered,  the  president  and  directors  of  the  board  of 
public  works  shall  be  satisfied  that  the  net  average 
profits  for  the  next  succeeding  year  will  not  equal 
six  per  centum  per  annum,  then  the  said  president 
and  directors  of  the  board  of  public  works  shall  so 
augment  the  tolls  or  rates  of  transportation,  as  the 
case  may  be,  as  to  make  them  sufficient  in  their  esti¬ 
mation  to  yield  such  annual  profit  of  six  per  cent,  per 
annum;  and  if  the  said  board  of  public  works  shall 
be  satisfied  upon  the  evidence  aforesaid  that  the  net 
annual  profits  will  exceed  the  rate  of  fifteen  per 
centum  on  the  capital  stock  expended,  then  they  shall 
so  diminish  the  tolls  or  rates  of  transportation  hereby 
allowed,  as  to  make  them  only  sufficient  in  their  esti¬ 
mation  to  yield  an  annual  net  profit  of  fifteen  per 
centum,  and  in  computing  the  profits  similar  toll  shall 
be  charged  on  the  freight  boats  or  vessels  of  the 
company  as  is  charged  on  the  freight  boats  or  vessels 
of  others. 

Sec.  16.  And  be  it  farther  enacted ,  That  if  the 
State  of  Virginia  shall,  in  the  prosecution  of  any 
general  scheme  of  improvement  within  the  term  of 
ten  years  from  the  passage  of  this  act,  require  the 
use  of  the  said  canal  or  slack- water  navigation,  or  if 
the  Chesapeake  and  Ohio  canal  company,  for  the 


16 


VIRGINIA  CHARTER. 


purpose  of  continuing  that  work  to  the  Ohio,  shall 
within  the  term  of  five  years,  require  the  said  canal 
or  slack-water  navigation  as  a  part  thereof,  then  and 
in  that  case  it  may  be  lawful  for  the  State  of  Virginia 
or  the  said  Chesapeake  and  Ohio  canal  company, 
as  the  case  may  be,  upon  the  payment  to  the  said 
company  of  the  sum  expended  in  the  construction 
thereof,  with  proper  allowance  for  interest,  deducting 
the  profits  which  may  have  arisen  from  tolls,  to  take 
possession  of  the  said  canal  or  slack-water  navigation  ; 
and  the  right  and  property  therein,  upon  the  pay¬ 
ment  to  the  company  of  the  cost  thereof  as  aforesaid, 
shall  he  vested  in  the  State  of  Virginia,  or  the  said 
Chesapeake  and  Ohio  canal  company,  becoming 
posssessed  thereof  as  aforesaid. 

Sec.  17.  And  be  it  further  enacted ,  That  the  said 
company  may  and  are  hereby  empowered  to  unite 
with  any  company  or  companies  chartered  by  the 
State  of  Maryland  for  similar  purposes. 

Sec.  18.  And  be  it  further  enacted ,  That  nothing 
herein  contained  shall  be  so  construed  as  to  prohibit 
the  Legislature  of  this  State  from  authorizing  the 
construction  of  roads  or  other  improvements  through 
the  lands  of  the  said  company,  in  the  same  manner, 
and  to  the  same  extent,  as  if  they  were  the  property 
of  individuals. 

Sec.  19.  And  be  it  further  enacted ,  That  nothing 
herein  contained  shall  be  so  construed  as  to  lessen,  im¬ 
pair,  or  in  any  way  effect  any  rights  or  privileges  pos- 


VIRGINIA  CHARTER. 


17 


sessed  by  or  vested  in  the  Chesapeake  and  Ohio  canal 
company,  or  any  other  company  incorporated  by  this 
State,  and  that  the  Legislature  reserves  the  power 
to  authorise  any  other  company  hereafter  to  he  in¬ 
corporated  to  connect  wTith  the  improvements  herein 
provided  for ;  and  that  any  company  hereafter  to  he 
incorporated,  or  individual,  shall  have  liberty  to  tran¬ 
sport  on  the  canal  in  his  or  their  boats,  or  on  the  said 
railroad  or  railroads  in  the  cars  and  carriages  of  the 
company,  any  passengers,  goods,  wares,  or  merchan¬ 
dise,  on  the  payment  of  such  tolls  as  are  herein  pre¬ 
scribed  to  be  established  by  this  act :  And,  moreover, 
the  said  company  shall  keep  in  repair  a  sufficient 
number  of  cars  or  carriages  for  the  speedy  convey¬ 
ance  of  all  passengers  and  transportation  of  all  goods, 
wares,  and  merchandise  of  any  person  or  persons  or 
body  corporate  whatever ;  and  the  goods,  wares,  and 
merchandise  of  the  company  shall  not  be  transported 
on  the  aforesaid  canal  or  slack-water  navigation  or 
railroads  to  the  exclusion  of  the  goods,  wares,  and 
merchandise  of  other  persons,  nor  shall  the  privilege 
herein  granted  the  company  to  unite  with  other 
railroads,  canals,  or  slack-water  navigation  he  con¬ 
strued  to  give  any  further  privilege  than  the  trans¬ 
portation  of  the  goods,  wares,  and  merchandise  of 
said  company  from  their  own  works  to  market. 

Sec.  20.  And  be  it  further  enacted ,  That  this  act 
shall  take  effect  and  be  in  force  from  and  after  the 
passage  thereof,  and  that  so  much  thereof  as  relates 
3 


18 


VIRGINIA  CHARTER. 


to  the  construction  and  working  of  mills,  manufac¬ 
tories,  and  coal  and  iron  mines,  shall  continue  in  force 
for  the  term  of  fifty  years ;  provided,  nevertheless, 
the  Legislature  may,  at  any  time  after  thirty  years, 
alter,  modify,  or  repeal,  so  much  of  the  same  as 
empowers  the  said  company  to  erect  and  carry  on 
mills  and  manufactories  and  to  work  their  coal  mines. 


State  of  Virginia,  City  of  Richmond ,  to  wit: 

I,  George  W.  Munford,  Clerk  of  the  House  of  Delegates  and 
Keeper  of  the  Rolls  of  Virginia,  do  hereby  certify  and  make 
known  that  the  foregoing  is  a  true  copy  of  an  act  of  the  Legis¬ 
lature  of  Virginia,  passed  February  2d,  1836. 

Given  under  my  hand  this  fourth  day  of  February,  1836. 

GEORGE  W.  MUNFORD, 

Clk.  Ho.  Del.  and  Keeper  of  the  Rolls  of  Virginia. 


SUPPLEMENT. 


AN  ACT, 

SUPPLEMENTARY  TO  AN  ACT, 

E  NT 1TLE  D 

“AN  ACT 

TO  INCORPORATE  THE 

UNION  POTOMAC  COMPANY.” 

PASSED  MARCH  11,  1839. 


Be  it  enacted  by  the  General  Assembly ,  That  the 
commissioners  heretofore  appointed  to  superintend 
the  organization  of  the  Union  Potomac  Company, 
or  a  majority  of  them,  may  at  such  time  and  place 
as  they  shall  designate,  proceed  to  organize  the 
same,  and  that  the  said  company  he  and  they  are 
hereby  allowed  two  years,  in  addition  to  the  time 
allowed  by  the  act  incorporating  the  same,  for  the 
commencement  and  completion  of  their  canal  or 
slack-water  navigation. 

And  be  it  further  enacted ,  That  the  said  company, 
in  addition  to  the  land  heretofore  authorised  to  be 
purchased,  may  purchase,  use,  transfer  and  sell,  or 
otherwise  dispose  of  estate,  real,  personal  and  mixed, 
provided  they  shall  at  no  time  hold,  in  addition  to 


20  SUPPLEMENT  TO  VIRGINIA  CHARTER. 


the  lands  heretofore  authorised  to  be  held  by  them, 
more  than  twenty  thousand  acres,  lying  and  being  in 
the  counties  of  Hardy  and  Hampshire. 

And  be  it  further  enacted ,  That  the  president  and 
directors  of  said  company  may  from  time  to  time 
and  at  such  times  as  they  shall  deem  it  expedient, 
increase  the  cash  subscription  to  the  capital  stock  of 
said  company,  provided  the  same  shall  not  exceed 
thirty  thousand  shares  over  and  above  the  stock, 
representing  the  lands  of  said  company.  And  the 
said  president  and  directors  may  receive  such  evi¬ 
dence  of  the  ownership  of  their  stock,  and  of  the 
bonds  and  obligations  given  for  money  borrowed,  or 
for  lands  or  property  purchased,  as  is  received  on 
account  of  the  funded  debt  of  the  United  States. 

This  act  shall  be  in  force  from  the  passing  thereof. 


MARYLAND  CHARTER. 


AN  ACT 

TO  INCORPORATE  THE 


UNION  COMPANY. 


Whereas  it  is  represented  to  this  General  Assembly 
that  Duff  Green  and  others,  his  associates,  have 
purchased  several  tracts  of  land  at  or  near  the  mouth 
of  Savage  river,  in  Alleghany  county,  containing 
extensive  and  valuable  mines  of  coal,  iron,  and  other 
minerals;  and  that  the  interest  of  this  State  will  be 
promoted,  and  the  trade  of  the  Chesapeake  and  Ohio 
canal  and  Baltimore  and  Ohio  railroad,  in  which  the 
State  has  so  large  a  pecuniary  interest,  will  be  great¬ 
ly  increased  by  the  working  of  said  mines,  and  by  the 
construction  of  a  canal,  or  of  a  slack-water  naviga¬ 
tion  by  lock  and  dam,  with  appropriate  railways  con¬ 
necting  said  mines  and  the  extensive  and  valuable 
mineral  region  in  which  they  are  situate  with  the 
Chesapeake  and  Ohio  canal  and  the  Baltimore  and 
Ohio  railroad:  Therefore, 

Section  1.  Be  it  enacted  by  the  General  Assembly 
of  Maryland ,  That  Duff  Green,  James  Lyons, 
Beverly  R.  Welford,  William  M.  Green,  Richard 


22 


MARYLAND  CHARTER. 


K.  Cralle,  Archibald  M.  Green  and  Robert  Hord, 
and  all  and  every  person  or  persons  who  may  become 
subscribers  in  the  manner  hereinafter  prescribed, 
shall  be  and  they  are  hereby  incorporated  by  the 
name  of  “The  Union  Company,”  for  the  purposes  of 
making,  constructing,  keeping  in  repair,  and  carrying 
on  a  canal  or  slack-water  navigation  by  lock  and 
dam,  from  the  basin  of  the  Chesapeake  and  Ohio 
canal,  at  or  near  Cumberland,  in,  along,  or  near  the 
Potomac  river,  to  the  mouth  of  the  Savage  river,  in 
Alleghany  county,  and  thence,  up  said  river  and  the 
Potomac  river  and  George’s  creek,  to  such  point  or 
points  on  said  rivers  and  George’s  creek  as  they  may 
deem  it  expedient  to  terminate  the  same  at,  and  of 
connecting  the  same  or  the  Baltimore  and  Ohio  rail¬ 
road  with  their  mines  and  manufactories  by  such 
railway  or  railways  as  they  may  deem  necessary  for 
that  purpose;  and  also  for  erecting,  constructing  and 
carrying  on  mills  and  manufactories  of  iron  and  other 
articles,  of  which  iron  is  a  component  part,  and  for 
opening,  working  and  transporting  to  market  the  pro¬ 
duce  of  their  mines,  lands,  mills  and  manufactories; 
and  for  the  purchase,  transportation,  and  sale  of 
goods,  chattels  and  effects;  and  that  for  said  purposes 
they  shall  be  a  body  politic  and  corporate  by  the 
name  aforesaid,  and  as  such  shall  have  power  to 
obtain  by  purchase  or  gift,  to  hold  and  lease  or  sell 
all  such  property  as  they  may  require  for  the  purpose 
aforesaid:  Provided  that  the  same  company  shall  at 


MARYLAND  CHARTER. 


23 


no  time  hold  or  possess  in  this  State,  for  its  said 
mines  and  manufactories,  more  than  thirty  thousand 
acres  of  land;  and  shall  not  purchase  more  than  ten 
thousand  acres  of  said  land  subsequent  to  the  organi¬ 
zation  of  said  company,  and  that  by  said  name  the 
said  company  shall  have  succession,  and  may  sue  and 
be  sued,  and  may  have  a  common  seal,  which  they 
may  alter  at  pleasure,  and  may  have  and  exercise  for 
the  purposes  aforesaid,  under  the  restrictions  herein 
mentioned,  the  powers  usually  incident  to  corpo¬ 
rations. 

Sec.  2.  And  be  it  enacted ,  That  the  capital  stock 
of  said  company  shall  consist  of  ten  thousand  shares 
of  one  hundred  dollars  each,  of  which  the  lands  and 
mines  of  the  said  Duff  Green  and  his  associates  may 
constitute  a  part,  at  a  price  to  be  made  known  by  the 
commissioners  authorized  to  receive  subscriptions  to 
the  capital  stock  of  said  company,  at  or  before  the 
times  of  subscription;  and  which  price  or  value  shall 
be  estimated  and  fixed  by  disinterested  persons, 
one  of  whom  shall  be  appointed  by  the  Governor 
and  Council,  one  by  the  above  named  proprietors, 
and  the  third  by  these  two;  and  who,  or  a  majority  of 
them,  shall  estimate  and  fix,  on  oath,  the  value  of  said 
lands  and  mines,  and  make  return  thereof  in  writing 
to  the  said  commissioners  before  they  shall  receive 
any  subscriptions  to  the  said  capital  stock;  and  the 
president  and  directors  of  said  company  shall  have 
power  from  time  to  time  to  increase  the  capital  stock 


24 


MARYLAND  CHARTER. 


to  such  an  amount  as  may  be  found  necessary  for  the 
accomplishment  of  the  objects  of  this  incorporation, 
provided  that  the  same  does  not  exceed  thirty  thou¬ 
sand  shares.* 

Sec.  3.  And  be  it  enacted ,  That  the  subscriptions 
to  the  capital  stock  of  said  company  shall  be  received 
under  the  direction  of  Duff  Green,  James  Lyons, 
Beverly  R.  Welford,  William  M.  Green,  Richard 
K.  Cralle,  Archibald  M.  Green,  and  Robert  Hord, 
or  a  majority  of  them,  who  shall  act  as  commission¬ 
ers  at  such  times  and  places  as  they  shall  designate, 
they  giving  at  least  ten  days  previous  notice  in  one  or 
more  newspapers  printed  in  the  cities  of  Baltimore 
and  Washington,  and  elsewhere  if  they  deem  it 
necessary;  and  each  subscriber  shall  pay  at  the  time 
of  subscription,  to  the  commissioners  receiving  the 
same,  the  sum  of  ten  dollars  on  each  share  by  him 
or  them  subscribed. 

Sec.  4.  And  be  it  enacted ,  That  the  management 
of  the  business  and  concerns  of  said  company  shall 
be  vested  in  nine  directors,  who  shall  be  stockholders 
and  citizens  of  the  United  States,  any  five  of  whom 
shall  be  a  quorum  for  the  transaction  of  its  business; 
that  the  first  board  of  said  directors  shall  be  elected 
by  the  subscribers  under  the  superintendence  of  the 
commissioners  aforesaid,  at  such  time  and  place  as 
they  may  designate,  they  giving  at  least  twenty  days 


*May  be  increased  to  fifty  thousand  shares,  to  create  a  trust  fund  of  two  mil¬ 
lions  of  dollars.  See  6th  section  of  Supplement. 


MARYLAND  CHARTER. 


25 


previous  notice  thereof  in  at  least  one  newspaper 
printed  in  each  of  the  cities  of  Baltimore  and  Wash¬ 
ington;  that  the  subsequent  elections  of  directors  shall 
be  made  annually  thereafter,  and  after  a  like  previ¬ 
ous  notice  at  a  general  meeting  of  the  stockholders 
to  be  convened  for  that  purpose  at  such  time  and 
place  as  may  be  fixed  by  the  by-laws  of  said  compa¬ 
ny;  that  if  any  election  of  directors  should  not  be 
made  on  the  day  when  it  ought  to  be  made  such 
election  may  be  made  after  like  notice  at  any  time 
within  six  months  thereafter,  and  the  president  and 
directors  for  the  time  being  shall  hold  and  exercise 
their  respective  offices  until  a  new  election  is  made; 
and  that  in  all  elections,  and  on  all  questions  touch¬ 
ing  the  business  or  concerns  of  said  company,  each 
share  shall  be  entitled  to  one  vote. 

Sec.  5.  And  be  it  enacted ,  That  every  board  of 
directors  of  said  company  shall,  at  their  first  meet¬ 
ing  after  their  election,  or  as  soon  thereafter  as  is 
practicable,  appoint  one  of  their  own  body  to  be  Pre¬ 
sident  of  said  company,  and  shall  in  the  same  manner 
appoint  a  Treasurer,  and  such  other  officers  and 
agents  as  they  may  deem  necessary  for  managing  the 
affairs  of  said  company,  who  shall  hold  their  offices 
at  the  pleasure  of  the  president  and  directors,  and 
shall  give  such  security  as  may  be  prescribed  by  the 
by-laws  of  said  company;  and  that  every  director  of 
the  company,  its  treasurer,  and  such  other  officers  as 
may  be  required  to  take  the  same,  by  the  by-laws  of 
4 


26 


MARYLAND  CHARTER. 


said  company,  shall  take  an  oath  or  affirmation,  as  the 
case  may  be,  that  they  will  honestly  and  faithfully 
perform  the  duties  of  their  respective  offices. 

Sec.  6.  And  be  it  enacted ,  That  the  president  and 
directors  of  said  company  shall  be,  and  they  are  here¬ 
by,  invested  with  all  the  rights  and  powers  necessary 
for  the  construction,  repair  and  carrying  on  of  a 
canal  not  exceeding  in  dimensions  the  Chesapeake 
and  Ohio  canal,  at  Cumberland,  or  of  a  slack-water 
navigation  in  the  river  Potomac,  by  lock  and  dam, 
beginning  the  said  canal  or  lock  and  dam  navigation, 
in  connection  with  the  Chesapeake  and  Ohio  canal, 
at  or  near  Cumberland,  and  continuing  the  same  in, 
along,  or  near  to  the  Potomac  river  to  the  mouth  of 
the  Savage  river  in  Alleghany  county,  and  thence  in, 
along,  or  near  to  the  said  river,  George’s  creek  and 
the  Potomac  river,  to  such  point  or  points  thereon  as 
they  may  deem  it  expedient  to  terminate  the  same  at, 
and  also  to  construct  such  railway  or  railways,  to  con¬ 
nect  their  mines  and  manufactories  with  said  canal  or 
slack-water  navigation,  or  the  Baltimore  and  Ohio 
railroad,  as  they  may  deem  it  necessary  or  expedient 
for  the  successful  working  of  said  mines,  and  of  the 
mills  and  manufactories  aforesaid;  and  that,  for  that 
purpose,  the  said  president  and  directors  shall  have 
power  to  make,  construct,  establish,  and  keep  in 
repair,  all  and  any  such  work  or  works  as  they  may 
find  necessary  or  useful  for  constructing,  keeping  in 
repair,  or  carrying  on  said  canal  or  lock  and  dam 


MARYLAND  CHARTER. 


27 


navigation  and  railways,  with  their  proper  appurte¬ 
nances,  and  may  also  employ  all  such  agents,  and 
make  all  such  contracts  and  purchases,  and  take  and 
hold  all  such  gifts  and  grants  of  property,  or  of  any 
interest  in  the  same,  as  may  be  found  necessary  for 
the  purposes  aforesaid. 

Sec.  7.  And  be  it  enacted ,  That  the  president 
and  directors  of  said  company  may  agree  with  the 
owner  or  owners  of  any  land,  or  of  any  interest  in 
the  same,  or  of  any  earth,  timber,  gravel,  or  stone, 
which  may  be  wanted  for  the  construction  or  repair 
of  said  canal  or  lock  and  dam  navigation  and  railways, 
or  their  appurtenances ;  and  if  they  cannot  agree,  or 
if  such  owner  or  owners  be  a  feme  covert,  unknown, 
non  compos  mentis,  under  age,  or  out  of  the  state  or 
county,  then  on  application  by  said  president  and 
directors  or  their  agents  to  any  justice  of  the  peace 
of  the  county  in  which  said  lands,  timber,  stone,  earth, 
and  gravel  lie,  the  said  justice  shall  issue  his  war¬ 
rant  under  his  hand  and  seal,  to  the  sheriff  of  the 
county  to  summon  a  jury  of  eighteen  inhabitants  of 
said  county,  not  related  to  the  parties,  nor  interested 
in  the  property  to  be  valued,  to  meet  on  or  near  to 
the  property  to  be  valued,  at  a  day  named  in  the 
warrant,  not  less  than  ten  nor  more  than  twTenty  days 
after  the  issuing  of  the  same  ;  and  the  sheriff  shall  on 
its  receipt  summon  said  jury  accordingly,  and  when 
the  jury  meets,  if  twelve  or  more  attend,  shall  qualify 
all  attending  as  jurors  by  administering  to  them  be- 


28 


MARYLAND  CHARTER. 


fore  they  act  as  such,  an  oath  or  affirmation,  as  the 
case  may  be  that  they  will  justly  and  impartially 
value  the  damages  which  such  owner  or  owners  will 
sustain  by  the  taking  of  the  property  required  by  the 
company ;  and  if  at  least  twelve  do  not  attend,  the 
sheriff  shall  immediately  summon  as  many  more  as 
may  be  necessary  to  make  up  that  number,  and  shall 
then  qualify  the  jury  in  the  same  manner;  and  the 
said  jury  are  hereby  instructed,  in  estimating  said 
damages,  to  consider  the  benefit  which  will  accrue, 
or  has  accrued,  to  such  owner  or  owners  from  the 
construction  of  said  canal,  or  lock  and  dam  navigation, 
or  railway  for  which  it  is  wanted,  and  to  make  the 
proper  allowance  for  such  benefit  in  their  verdict; 
and  the  inquisition  thereupon  taken  shall  be  signed 
by  the  sheriff  and  at  least  twelve  of  the  jury,  and  re¬ 
turned  by  said  sheriff  to  the  office  of  the  clerk  of  the 
county  court,  and  unless  good  cause  be  shown  against 
it,  it  shall  be  affirmed  by  said  county  court,  at  the  term 
after  it  is  returned,  and  shall  then  be  recorded  by  said 
clerk  amongst  the  land  records  of  said  county  ;  but  if 
any  such  inquisition  be  set  aside,  the  said  court  may 
at  its  discretion,  as  often  as  it  may  be  necessary, 
direct  another  to  be  taken  and  returned,  which  shall 
be  confirmed  as  aforesaid;  and  every  such  inquisition, 
as  to  land,  shall  ascertain  the  bounds  of  the  land  so 
valued,  and  the  valuation,  when  confirmed  by  the 
court,  shall  be  conclusive  against  the  parties,  and 
shall  be  paid  by  the  said  president  and  directors  to 


MARYLAND  CHARTER. 


29 


such  owner  or  owners,  or  his,  her,  or  their  legal  re¬ 
presentatives,  and  when  paid  or  tendered  shall  entitle 
the  said  company  to  all  the  estate  or  interest  of  such 
owner  or  owners  in  the  property  so  valued ;  and  if  the 
valuation  be  refused  when  tendered,  or  the  party  to 
whom  it  is  due  be  unknown,  it  may  afterwards  be 
recovered  of  said  company  without  interest  or  costs. 

Sec.  8.  And  be  it  enacted ,  That  as  soon  as  the 
valuation  of  the  property  wanted  shall  have  been 
made  by  a  jury,  in  the  manner  prescribed  in  the  pre¬ 
ceding  section,  the  said  president  and  directors,  or 
their  agents,  may  immediately  enter  upon,  take,  and 
use  the  property  so  valued  ;  and  the  valuation,  when 
confirmed,  shall  be  a  bar  to  all  actions  by  the  person 
or  persons  against  whom  such  valuation  is  made  for 
so  entering  upon  or  using  the  said  property  after  such 
valuation  is  made. 

Sec.  9.  And  be  it  enacted ,  That  the  capital  stock  of 
said  company  shall  be  deemed  personal  property,  and 
that  the  shares  of  said  stock  may  be  transferred  on 
the  books  of  said  company  in  such  manner  as  its  by¬ 
laws  may  direct,  but  all  debts  due  the  said  company 
by  the  stockholders  wanting  to  make  the  transfer, 
and  all  outstanding  engagements  on  which  he  is 
then  liable,  to  said  company,  shall  be  paid  or  satisfied 
out  of  said  stock  or  otherwise,  before  any  transfer  of 
any  of  said  stock  can  be  made,  and  before  any  divi¬ 
dends  can  be  paid  upon  the  same,  except  by  the  spe¬ 
cial  permission  of  the  president  and  directors  of  said 


30 


MARYLAND  CHARTER. 


company;  and  when  the  said  company  shall  he  organ¬ 
ized,  the  amount  due  upon  the  subscriptions  to  its 
capital  stock  shall  be  paid  in  instalments,  at  such 
times  as  the  president  and  directors  may  require 
the  same  to  be  paid,  they  giving  at  least  sixty  days 
notice  of  the  demand  of  any  instalment,  in  at  least  one 
newspaper  printed  in  each  of  the  cities  of  Baltimore 
and  Washington;  and  in  default  of  payment  of  any  in¬ 
stalment,  the  president  and  directors  may  offer  at 
public  sale  so  many  of  the  shares,  in  default,  as  may 
be  sufficient  to  discharge  the  sum  then  due  on  the 
same,  and  the  purchaser  thereof  shall  hold  the  same, 
subject  to  the  same  regulations,  and  with  the  same 
rights,  as  if  they  had  been  originally  subscribed  by 
him. 

Sec.  10.  And  be  it  enacted ,  That  if  the  said  canal  or 
lock  and  dam  navigation,  be  not  completed  from 
Cumberland  to  the  mouth  of  George’s  creek  within  two 
years  after  the  completion  of  the  Chesapeake  and 
Ohio  canal  to  Cumberland,  then  the  authority  to  con¬ 
struct  the  same  shall  wholly  cease  and  be  void. 

Sec.  11.  And  be  it  enacted ,  That  the  said  canal,  lock 
and  dam  navigation,  or  any  part  thereof,  as  soon  as  it 
is  completed,  shall  be  and  remain  for  ever  navigable  as 
a  public  highway  for  the  transportation  of  persons  or 
property  of  every  description,  upon  the  payment  to 
the  said  company,  or  their  agents,  of  tolls,  in  con¬ 
formity  with  a  tariff  that  shall,  from  time  to  time, 
be  established  by  the  president  and  directors  of  said 


MARYLAND  CHARTER. 


31 


company,  with  the  approbation  of  the  persons  who 
may  represent  this  State  in  joint  companies,  in¬ 
corporated  to  make  roads  and  canals:  Provided 
always,  that  the  said  tariff  shall  be  so  framed  as  to 
yield  a  net  profit  to  said  company,  which  shall  not 
be  less  than  six  per  cent,  upon  the  capital  expended 
upon  the  said  canal  and  lock  and  dam  navigation,  and 
the  necessary  appurtenances,  nor  shall  the  said  tariff 
exceed  the  rates  now  chargeable  by  law  upon  the 
Chesapeake  and  Ohio  canal,  whenever  the  trade 
thereon  shall  be  sufficient  at  that  rate  to  yield  a  net 
profit  of  six  per  cent,  as  aforesaid;  and  that  it  shall 
be  the  duty  of  the  president  and  directors  of  said 
company,  whilst  the  said  canal  or  lock  and  dam  navi¬ 
gation  is  in  progress;  and  annually  thereafter,  to  re¬ 
port  to  the  Legislature  a  statement  showing  the 
amount  expended  by  said  company  in  construction  of 
the  same  and  its  works,  the  amount  of  tolls  received 
during  the  preceding  year,  the  amount  of  expenses 
during  the  same  period,  and  the  net  profit  on  the 
capital  expended;  and  that  if  it  shall  appear  from  the 
same,  or  be  otherwise  proved  that  the  net  profits  of 
the  company  on  that  part  of  their  capital  so  expended 
in  the  preceding  year  shall  have  exceeded  fifteen  per 
cent.,  then  the  Legislature  of  this  State  shall  have 
power  to  make  such  reduction  of  said  tolls  or  rates  of 
transportation  as  shall  be  found  sufficient  to  reduce 
them  to  fifteen  per  cent. ;  and  that  the  said  president 
shall  semi-annually  at  such  times  as  the  by-laws  of 


32 


MARYLAND  CHARTER. 


said  company  shall  direct,  make  and  declare  a  divi¬ 
dend  of  the  net  profits  of  said  company. 

And  whereas,  it  appears  to  this  General  Assembly 
that  a  canal  or  lock  and  dam  navigation  from  Cum¬ 
berland  to  the  mouth  of  Savage  river,  will  be  conduct¬ 
ed  through  a  fertile  portion  of  Alleghany  county,  and 
will  terminate  at  a  mineral  region  of  great  extent  and 
boundless  mineral  resources  hitherto  inaccessible,  and 
to  remain  comparatively  useless  and  unproductive 
unless  some  communication  with  the  same  be  opened 
by  such  an  improvement  as  is  contemplated  by  this 
act ;  and  that  although  the  full  extent  of  the  mineral 
wealth  of  that  region  is  as  yet  imperfectly  developed, 
yet  enough  is  known  and  particularly  as  to  the  ex¬ 
tensive  coal  and  iron  mines  lying  there  in  close  con¬ 
nection  with  each  other,  to  induce  this  General 
Assembly  to  bestow  its  fostering  care  in  giving  life 
and  activity  to  these  great  sources  of  public  wealth  ; 
And  whereas  it  also  appears  that,  apart  from  the 
direct  benefits  to  result  to  the  people  of  this  State 
from  opening  the  navigation  of  the  Chesapeake  and 
Ohio  canal  to  the  remote  borders  of  Alleghany,  and 
bringing  to  light  and  use  these  great  elements  of  State 
wealth,  the  trade  and  interest  of  the  Chespeake  and 
Ohio  canal,  and  of  the  Baltimore  and  Ohio  railroad, 
will  be  greatly  enhanced  by  the  completion  of  the  im¬ 
provements  contemplated  by  this  act ;  and  this 
General  Assembly,  in  full  view  of  all  these  results, 
and  earnestly  desiring  their  accomplishment,  is  willing 


MARYLAND  CHARTER. 


33 


by  proper  inducements  to  stimulate  individual  energy 
and  individual  wealth  to  the  completion  of  a  work  in¬ 
volving  such  public  benefits  :  Therefore, 

Sec.  12.  And  be  it  enacted ,  That  as  soon  as  the 
company  incorporated  by  this  act  shall  have  com¬ 
menced  the  construction  of  a  canal  or  lock  and  dam 
navigation  to  extend  from  the  Chesapeake  and  Ohio 
canal,  at  or  near  Cumberland,  to  the  mouth  of  Sav¬ 
age  river,  the  said  company  shall  have  power  to 
insure  against  losses  by  fire  or  ivater*  or  other  casu¬ 
alties,  to  receive  endowments  or  deposites  of  personal 
or  mixed  property,  in  trust,  to  grant  annuities,  to 
contract  for  reversionary  payments,  to  make  all 
kinds  of  contracts  in  which  the  casualties  of  life  and 
interest  of  money  are  concerned,  to  acquire  and  dis¬ 
pose  of  goods  and  effects,  to  provide  for  the  invest¬ 
ment  of  such  parts  of  the  funds  of  the  company  as 
they  may  desire  to  invest  in  stock  and  mortgages  in 
such  manner  as  they  may  deem  most  beneficial,  and 
in  general  to  exercise  and  enjoy  such  other  rights  and 
privileges  as  are  granted  by  this  State  to  the  Ameri¬ 
can  Life  Insurance  and  Trust  Company,  subject  to  all 
the  conditions ,  restrictions ,  and  limitations  of  the  said 
company ;*  but  that  if  the  said  canal  or  lock  and 
dam  navigation  be  not  completed  to  the  mouth  of 
Savage  river  within  the  time  prescribed  by  the  tenth 
section  of  this  act  for  the  completion  of  the  same, 


*  The  11th  section  of  the  Supplement  repeals  so  much  as  is  printed  in  Italics, 

5 


34 


MARYLAND  CHARTER. 


then  all  the  rights,  powers,  and  privileges  granted  by 
this  section  to  said  company  shall  wholly  cease,  and 
the  said  company  shall  not  thereafter  hold  or  exer¬ 
cise  said  rights,  powers  and  privileges,  or  any  of 
them. 

Sec.  13.  And  be  it  enacted ,  That  if  the  Chesa¬ 
peake  and  Ohio  Canal  Company  for  the  purpose  of 
continuing  the  said  canal  to  the  Ohio  river,  by  the 
route  of  the  Potomac  river,  shall  require  the  canal 
or  lock  and  dam  navigation  of  the  company  as  part 
thereof,  at  any  time  within  the  term  of  three  years 
after  the  Chesapeake  and  Ohio  Canal  shall  have  been 
completed  to  Cumberland,  the  said  Chesapeake  and 
Ohio  Canal  Company  shall  be  entitled  to  and  may 
take  possession  of  the  same  for  said  purpose,  upon 
payment  or  tender  to  the  president  and  directors  of 
the  company  incorporated  by  this  act,  of  the  sum 
expended  by  it  in  the  construction  of  its  said  canal 
or  lock  and  dam  navigation,  and  their  appurtenances, 
with  legal  interest  thereon,  deducting  the  net  profits 
which  may  have  arisen  from  tolls  or  transportation 
on  the  same. 

Sec.  14.  And  be  it  enacted ,  That  the  company 
incorporated  by  this  act  may  and  is  hereby  empow¬ 
ered  to  unite  with  any  company  chartered  by  the 
State  of  Virginia,  with  authority  to  make  or  con¬ 
struct  similar  improvements  in  or  along  the  Potomac, 
above  Cumberland,  and  that  the  right  to  take  or 
unite  a  canal  or  canals,  or  slack-water  navigation, 


MARYLAND  CHARTER. 


35 


from  or  to  any  part  of  the  aforesaid  canal  or  slack- 
water  navigation,  in  any  direction,  is  hereby  reserved 
to  the  State  of  Maryland,  and  to  any  company  or 
companies  which  may  be  hereafter  incorporated  for 
that  purpose  by  the  said  State;  provided,  that  in  tak¬ 
ing  or  uniting  such  canal  or  canals,  or  slack-water 
navigation,  and  in  using  the  waters  of  the  canal  or 
slack-water  navigation  aforesaid,  or  of  the  various 
streams  connected  therewith,  no  impediment  or  injury 
shall  he  done  to  the  navigation  of  the  canal  or  slack- 
water  navigation  aforesaid. 

Sec.  15.  And  be  it  enacted ,  That  all  such  parts  of 
this  act,  as  relate  to  the  establishment,  working,  or 
carrying  on  of  mills,  mines  or  manufactories,  and  all 
the  powers,  rights  and  privileges  granted  to  said 
company  by  the  twelfth  section  of  this  act,  may  be 
modified  or  repealed  by  the  Legislature  of  this  State 
at  any  time  after  thirty  years  from  the  passage  of 
this  act. 


W e  hereby  certify  the  aforegoing  to  be  a  true  copy  from  an 
original  act,  entitled  “An  act  to  incorporate  the  Union  Com¬ 
pany,”  which  passed  both  branches  of  the  Legislature  of  Mary¬ 
land,  at  December  session,  eighteen  hundred  and  thirty-five. 
Given  under  our  hands,  at  the  city  of  Annapolis,  this  thirtieth 
day  of  March,  one  thousand  eight  hundred  and  thirty-six. 

GEORGE  G.  BREWER, 

Clerk  House  Delegates ,  Md, 

JOS.  H.  NICHOLSON, 

Clerk  Senate ,  Md . 


SUPPLEMENT. 


AN  ACT, 


TO  AMEND  AN  ACT* 

ENTITLED 

AN  ACT 

TO  INCORPORATE  THE 

UNION  COMPANY. 

Sec.  1.  Be  it  enacted  by  the  General  Assembly  of 
Maryland ,  That  if  the  said  Union  Company  shall  not 
within  two  years  after  the  canal  or  lock  and  dam 
navigation  authorized  to  be  made  by  the  act  of  which 
this  is  an  amendment,  shall  have  been  completed  from 
the  Chesapeake  and  Ohio  canal  to  the  mouth  of  Sa¬ 
vage  river,  continue  the  same  up  George’s  creek  and 
Savage  and  Potomac  rivers  ;  or,  having  commenced 
the  same,  shall  at  any  time  thereafter  suspend  the 
said  continuation  thereof,  on  either  of  the  said  rivers 
or  George’s  creek,  for  the  space  of  one  year,  then  the 
powers  granted  to  the  said  company  shall  not  be  so 
construed,  as  to  prevent  the  Legislature  of  this  State 
from  authorizing  any  other  company  to  continue  the 
same ;  and  the  Legislature  reserves  the  right  to 


38  SUPPLEMENT  TO  MARYLAND  CHARTER. 


authorize  other  persons,  or  companies,  to  connect  other 
railroads  with  the  canal,  or  lock  and  dam  and  rail¬ 
roads  of  the  said  company,  subject  to  such  regulations 
as  are  provided,  in  like  cases,  for  uniting  with  the 
Baltimore  and  Ohio  Railroad  ;  and  it  is  expressly  un¬ 
derstood  that,  in  estimating  the  tolls  on  the  said  canal, 
or  lock  and  dam  navigation,  the  same  rate  of  toll  shall 
be  charged  on  the  boats  and  vessels,  and  the  cargoes 
thereof,  of  the  said  Union  Company  as  charged  on  the 
boats  and  vessels  and  cargoes  of  others ;  nor  shall 
the  said  company  charge  as  tolls  on  their  said  canal, 
or  railroad  more  than  is  now  chargeable  on  the 
Chesapeake  and  Ohio  Canal,  and  Baltimore  and  Ohio 
Railroad,  respectively. 

Sec:  2.  Be  it  enacted ,  That  the  State  hereby 
reserves  to  itself  the  right  of,  from  time  to  time,  re¬ 
gulating  the  use,  by  the  public,  of  said  company’s  rail¬ 
ways,  at  such  places  where  a  second  railway  cannot 
be  made,  which  use  the  Legislature  may  prescribe 
and  secure,  subject  to  such  tolls  as  it  may  fix  or  pro¬ 
vide  for  having  fixed,  by  such  conditions  and  forfeitures 
upon  said  corporation  as  the  Legislature,  in  that  be¬ 
half,  may  direct. 

Sec.  3.  And  be  it  enacted ,  That  the  president, 
directors,  and  trustees  of  the  said  Union  Company  are 
hereby  authorized  and  directed  to  receive  such  evi¬ 
dence  of  ownership,  and  be  governed  by  such  rules 
respecting  transfers  of  stock,  bonds,  or  obligations 
given  for  money  borrowed,  or  for  money  or  other  pro- 


SUPPLEMENT  TO  MARYLAND  CHARTER.  39 


perty  contracted  for,  or  received  on  deposite,  or  in 
trust,  as  are  received  and  adopted,  under  the  authority 
of  the  United  States,  for  transferring  the  funded  debt 
of  the  United  States. 

Sec.  4.  And  be  it  enacted ,  That  the  corporate 
powers  of  the  said  Union  Company,  which  are 
granted  in  the  twelfth  section  of  the  act,  of  which  this 
is  an  amendment,  shall  be  exercised  by  a  board  of 
trustees  and  such  officers,  agencies  and  branches  as 
they  shall  establish  and  locate.  The  board  of  trustees 
shall  consist  of  fifteen  persons,  who  shall  annually 
elect  a  President  from  their  own  body,  and  shall  have 
power  to  declare,  by  a  by-law,  what  number  of  trustees 
less  than  a  majority  of  the  whole,  shall  be  a  quorum 
for  the  transaction  of  business. 

Sec.  5.  And  be  it  enacted ,  That  the  trustees  shall 
severally  hold  their  offices  during  good  behavior, 
but  the  Alleghany  county  court,  as  a  court  of  equity, 
shall  have  power  to  remove  a  trustee,  on  such  notice 
to  be  heard  as  they  shall  deem  reasonable,  on  appli¬ 
cation,  of  any  person  interested,  whenever  it  shall 
appear  that  the  interests  of  the  public,  or  of  the  stock¬ 
holders,  will  be  promoted  thereby.  The  board  of 
trustees  shall  be  divided,  by  lot,  into  five  classes,  con¬ 
sisting  of  three  members  each,  and  so  arranged  that  the 
term  of  service  of  one  of  each  said  classes  shall  expire 
at  the  end  of  every  two  succeeding  years,  so  that 
three  trustees  shall  be  appointed  every  two  years. 
Every  vacancy  happening  in  the  board  of  trustees  by 


40  SUPPLEMENT  TO  MARYLAND  CHARTER. 


death,  resignation,  or  otherwise,  other  than  the  ex¬ 
piration  of  classes,  shall  be  supplied  by  the  choice  of 
the  remaining  trustees,  and  in  such  cases  the  votes  of 
a  majority  of  all  the  trustees,  for  the  time  being,  shall 
be  requisite  to  a  choice.  No  person  shall  be  eligible 
who  shall  not  have  been  openly  nominated,  at  a 
meeting  of  the  trustees,  at  least  one  month  before  the 
day  on  which  the  election  is  held;  and  no  person 
shall  be  a  trustee  who  shall  not  be  a  stockholder,  in 
his  own  right,  of  at  least  fifty  shares  of  the  capital  stock 
of  the  said  company,  and  the  seat  of  every  trustee 
ceasing  to  be  a  stockholder,  to  that  amount,  shall  be 
immediately  considered  and  held  vacant.  When 
vacancies  shall  happen  by  the  expiration  of  classes, 
the  same  shall  be  supplied  by  elections  to  be  held  by 
the  stockholders,  as  near  as  may  be,  in  pursuance  of 
the  fourth  section  of  the  act  incorporating  the  said 
company. 

Sec.  6.  And  be  it  enacted ,  That  when  the  capital 
stock  of  the  said  Union  Company  shall  have  been  sub¬ 
scribed,  and  one  million  of  dollars  thereof  paid  in,  and 
the  said  company  shall  have  commenced  the  construc¬ 
tion  of  the  said  canal  or  slack- water  navigation,  as  re¬ 
quired  by  the  twelfth  section  of  the  act  incorporating 
the  same,  the  board  of  trustees  shall  open  a  subscription 
for  twenty  thousand  shares,  which  subscription  and 
the  funds  accruing  therefrom  shall  be  and  the  same 
are  hereby  pledged,  reserved,  set  apart,  and  con¬ 
stituted  a  specific,  distinct  and  separate  fund,  to  be 


SUPPLEMENT  TO  MARYLAND  CHARTER.  41 


invested  by  the  said  trustees  in  the  public  securities 
of  this  State,  or  of  the  United  States,  or  of  the  other 
States,  in  real  estate,  in  the  stock  of  some  other  in¬ 
corporated  company,  or  in  bonds  or  notes  secured  by 
unincumbered  real  estate  of  double  the  value,  in  each 
case,  of  the  sum  secured;  as  a  specific  security,  over 
and  beyond  the  other  funds  and  property  of  the  said 
company,  for  the  payment  of  the  bonds  and  obli¬ 
gations  entered  into,  and  liabilities  incurred,  by  the 
said  trustees. 

Sec.  7.  And  be  it  enacted ,  That  it  shall  be  the  duty 
of  the  said  trustees  to  send  annually  to  the  Alleghany 
county  court,  as  a  court  of  equity,  under  their  seal,  a 
fair  statement  of  their  transactions,  and  the  said  court 
shall  at  all  times,  whenever  the  interest  of  the  cor¬ 
poration,  or  of  others,  shall  require  it,  order  a  full  and 
fair  investigation  into  the  affairs  of  the  corporation 
by  a  proceeding  in  equity ;  and  if,  in  the  course  of 
such  investigation,  it  be  made  manifest,  that  the  in¬ 
terests  of  those  concerned  require  it,  it  shall  be  the 
duty  of  the  said  court  to  demand,  from  the  said  com¬ 
pany,  such  security  as  will  save  its  creditors  from  loss; 
and  in  case  of  failure  to  give  such  security,  within  a 
reasonable  time,  the  said  court  shall  demand  a  sur¬ 
render  of  the  assets  of  the  said  corporation,  and  their 
charter  shall  become  forfeited. 

Sec.  8.  And  be  it  enacted ,  That  all  the  doings  of  the 
said  directors  shall  be,  at  all  times,  subject  to  the  in¬ 
spection  of  such  officer,  or  agent  of  the  State  as  may 
6 


42  SUPPLEMENT  TO  MARYLAND  CHARTER. 

be  selected  for  that  purpose,  by  either  branch  of  the 
Legislature;  and  if,  at  any  time,  the  capital  stock  and 
assets  of  the  said  corporation  shall  not  be  sufficient 
to  pay  all  the  debts  incurred  by  the  said  trustees, 
they  shall  be  responsible  in  the  same  manner  and  to 
the  same  extent  that  trustees  now  are,  by  law,  respon¬ 
sible  in  law,  or  equity. 

Sec.  9.  And  be  it  enacted ,  That  the  said  company 
shall  not  issue  any  bill,  or  note  in  the  nature,  or  style 
of  a  bank  note. 

Sec.  10.  And  be  it  enacted ,  That  on  the  first  day 
of  January,  after  the  board  of  trustees  shall  have  been 
organized,  and  annually  thereafter,  the  said  Union 
Company  shall  pay  to  the  treasurer  of  the  Western 
Shore,  the  sum  of  twenty  cents,  on  every  hundred  dol¬ 
lars  of  the  amount  authorized  to  be  subscribed,  for 
the  said  specific  trust  fund ;  to  be  applied  by  the  said 
treasurer  in  augmentation  of  the  free  school  fund, 
and  distributed  in  the  same  manner  as  the  similar 
tax  on  incorporated  banks,  in  the  city  of  Baltimore, 
is  now  distributed  ;  and  in  case  of  the  failure  of  the 
said  company,  or  of  the  president  and  trustees  there¬ 
of,  to  make  such  payment  for  the  space  of  six  months, 
after  the  same  shall  have  become  due  and  payable, 
the  same  shall  be  levied  and  collected  as  other  taxes, 
on  personal  assets,  are  levied  and  collected  in  this 
State. 

Sec.  11.  And  be  it  enacted ,  That  so  much  of  the 
said  act,  incorporating  the  said  Union  Company,  as 


SUPPLEMENT  TO  MARYLAND  CHARTER.  43 


authorizes  said  company  to  insure  against  losses  by 
fire  or  water,  and  so  much  of  the  same  act  as  sub¬ 
jects  the  said  company  to  the  conditions,  limitations 
and  restrictions,  imposed  upon  the  American  Life 
Insurance  and  Trust  Company,  and  the  act  supple¬ 
mentary  to  the  said  act,  are  hereby  repealed. 

Sec.  12.  And  be  it  enacted ,  That  this  act  shall 
have  no  force,  or  effect,  unless  it  be  accepted  by  the 
stockholders  representing  a  majority  of  the  stock  of 
said  company;  and  this  act,  when  so  accepted,  and 
the  acceptance  certified  to  the  Governor  and  Council, 
under  the  seal  of  said  corporation,  and  signed  by  the 
president,  shall  be  taken  and  held  as  part  of  the 
charter  originally  granted  to  said  company,  and  be  as 
binding,  and  of  the  same  force  and  effect,  as  the 
original  charter. 


# 


* 


- 

' 


SUPPLEMENT. 


AN  ACT, 

SUPPLEMENTARY  TO  AN  ACT, 

ENTITLED 

AN  ACT 

TO  INCORPORATE  THE 

American  Life  Insurance  and  Trust  Company. 


Sec.  1.  Be  it  enacted  by  the  General  Assembly  of 
Maryland ,  That  from  and  after  the  passage  of  this 
act,  it  shall  and  may  be  lawful  for  the  subscribers  to 
the  American  Life  Insurance  and  Trust  Company,  to 
elect,  on  the  first  Monday  in  June  next,  and  on  the 
same  day  annually  thereafter,  eleven  persons  as  trus¬ 
tees,  and  their  power  and  authority  as  trustees  shall 
commence  from  the  time  of  said  election. 

Sec.  2.  And  be  it  enacted ,  That  every  trustee  so 
appointed  be  a  stockholder  to  the  amount  of  fifty 
shares,  at  least,  and  that  the  seat  of  every  trustee 
who  may  cease  to  be  a  stockholder,  to  the  amount  of 
fifty  shares,  shall  be  immediately  declared  vacant. 


46 


SUPPLEMENT. 


Sec,  3.  And  be  it  enacted ,  That  every  vacancy 
happening  in  the  board  of  trustees,  by  death,  resigna¬ 
tion,  disqualification  or  otherwise,  shall  be  supplied 
by  the  stockholders  at  their  next  meeting  thereafter. 

Sec.  4.  And  be  it  enacted ,  That  the  chancellor 
shall  have  the  like  power  to  remove  a  trustee,  upon 
the  application  of  a  party  interested,  as  a  court  of 
equity  has  in  any  cases  of  trustees;  and  the  said  trus¬ 
tees  shall  be  subject  to  the  same  responsibilities  as 
trustees,  appointed  by  a  court  of  equity,  or  by  act  of 
parties. 

Sec.  5.  And  be  it  enacted ,  That  the  stockholders 
shall  appoint  annually  a  president,  and  the  said  presi¬ 
dent  and  trustees  shall  exercise  all  the  corporate 
powers  of  the  said  company,  under  the  act  to  which 
this  is  a  supplement,  and  in  addition  to  insurances  on 
lives  or  property,  may  accept  and  execute  all  such 
trusts,  of  every  description,  as  may  be  committed  to 
them  by  order  of  the  courts  of  this  State:  Provided, 
that  said  company,  shall  not  be  permitted  to  receive 
any  trusts  or  endowments,  or  grant  annuities,  or  con¬ 
tract  for  reversionary  payments,  or  make  any  other 
contracts  in  which  the  casualties  of  life  or  the  inter¬ 
est  of  money  is  concerned,  until  at  least  two  hundred 
thousand  dollars  shall  be  subscribed  and  actually 
paid  in,  of  the  capital  stock  of  said  company,  and  in¬ 
vested  agreeably  to  the  provisions  of  the  sixth  section 
of  this  supplementary  act. 

Sec.  6.  And  be  it  enacted ,  That  the  said  president 


SUPPLEMENT. 


47 


and  trustees  shall  invest  their  capital,  which  they  are 
hereby  authorized  to  increase  to  ten  hundred  thou¬ 
sand  dollars,  in  public  securities,  bonds,  ground  rents, 
and  mortgages  upon  otherwise  unincumbered  real 
estate,  and  the  premiums  and  profits  received  by  the 
company,  and  the  money  received  by  them  in  trust, 
they  shall  have  a  discretionary  power  to  invest  in 
such  stocks,  real  and  personal  securities,  as  they  may 
deem  safe  and  proper;  but  said  company  shall  not 
hold  stock  in  any  one,  private,  incorporated  company 
beyond  twenty  thousand  dollars. 

Sec.  7.  And  be  it  enacted ,  That  so  much  of  the  act 
to  which  this  is  a  supplement,  as  may  be  inconsistent 
with  the  provisions  of  this  act,  be  and  the  same  is 
hereby  repealed:  Provided,  that  the  subscribers  under 
the  original  act  shall  accept  this  act  within  ninety 
days,  from  and  after  the  passage  thereof,  and  endorse 
upon  their  proceedings  a  resolution  to  that  effect, 
duly  verified  by  the  signature  of  their  chairman  or 
president,  otherwise  this  act  shall  be  null  and  of  no 
effect. 

Sec.  8.  And  be  it  enacted ,  That  this  act  shall  have 
no  force  or  effect,  unless  it  be  accepted  by  a  majority 
of  the  stockholders;  and  this  act,  when  so  accepted, 
shall  be  taken  and  held  as  part  of  the  charter  origi¬ 
nally  granted  to  said  company,  and  be  as  binding  and 
of  the  same  force  or  effect  as  said  original  charter. 


7W 


4 

t 


*• 


« 


SUPPLEMENT. 


AN 

ADDITIONAL  SUPPLEMENT 

TO  THE  ACT,  ENTITLED 

AN  ACT, 

TO  INCORPORATE  THE 

American  Life  Insurance  and  Trust  Company. 


Sec.  1.  Be  it  enacted  by  the  General  Assembly  of 
Maryland ,  That  at  the  next  annual  meeting  of  the 
stockholders  of  the  American  Life  Insurance  and 
Trust  Company,  which  shall  take  place  after  the 
passage  of  this  act,  it  shall  be  lawful  for  the  said 
stockholders  to  elect,  in  the  manner  prescribed  by  the 
act  of  incorporation  of  said  company  and  the  supple¬ 
ment  thereto,  a  president  and  twenty-three  persons 
as  trustees,  instead  of  a  president  and  eleven  persons 
as  trustees,  as  now  authorized  by  said  act  and  sup¬ 
plement;  and  the  president  and  trustees  so  elected 
shall  hold  their  offices  during  good  behavior,  and  in 
cases  of  vacancies  occurring,  at  any  time,  by  the 
death,  resignation  or  otherwise  of  the  president,  or  any 
7 


50 


ADDITIONAL  SUPPLEMENT. 


of  the  trustees,  the  same  shall  be  filled  by  election  of 
the  stockholders,  at  a  meeting  to  be  called  by  the 
trustees  for  that  purpose,  upon  at  least  ten  days 
notice,  and  under  the  regulations  provided,  as  to  elec¬ 
tions,  by  the  acts  to  which  this  is  a  supplement:  Pro¬ 
vided,  however,  that  any  president  or  trustee  may  at 
any  time,  for  cause  satisfactory  to  the  chancellor  or 
court,  be  removed  upon  the  application  of  a  majority 
of  stockholders  to  the  chancellor,  or  to  Baltimore 
county  court,  sitting  as  a  court  of  equity;  and  that  any 
president  or  trustee  he  subject  also  to  be  removed,  in 
the  case  and  in  the  manner  provided  for,  in  respect  to 
trustees,  in  the  fourth  section  of  the  act  supplementa¬ 
ry  to  the  act  to  which  this  is  a  supplement,  passed 
December  session,  eighteen  hundred  and  thirty-four, 
chapter  two  hundred  and  sixty-nine;  and  the  powers 
vested  in  the  chancellor  by  section  seven,  of  the  act 
of  eighteen  hundred  and  thirty-three,  chapter  two 
hundred  and  fifty-six,  with  reference  to  the  president 
and  directors;  shall  be  construed  to  apply  with  full 
force  to  the  president  and  trustees  authorized  by 
this  act. 

'Sec.  2.  And  he  it  enacted ,  That  it  shall  and  may 
be  lawful  for  the  president  and  trustees,  with  the  con¬ 
sent  of  the  stockholders  holding  a  majority  of  shares, 
at  a  general  meeting  of  stockholders  to  be  called  for 
the  purpose,  of  which  meeting  at  least  thirty  days 
notice  shall  be  given,  in  at  least  two  newspapers  of 
the  city  of  Baltimore,  to  increase  their  capital  to  the 


ADDITIONAL  SUPPLEMENT. 


51 


amount  of  fifty  dollars,  per  share,  in  such  instalments, 
and  at  such  times,  as  the  said  president  and  trustees 
may  deem  proper:  Provided,  that  such  increase  if 
made,  shall  be  invested  in  the  manner  provided  for  the 
investment  of  the  trust  funds  of  said  company,  and 
that  in  all  cases  where  money  shall  be  loaned  by  the 
said  company,  on  bond  or  mortgage,  or  other  security, 
in  any  State  other  than  the  State  of  Maryland,  it 
shall  be  lawful  for  the  said  company  to  receive  such 
rate  of  interest,  upon  such  loans,  as  is  permitted  to  be 
received  by  the  laws  of  such  State  and  no  more. 

Sec.  3.  And  be  it  enacted ,  That  on  the  first  Mon¬ 
day  of  January  next,  and  on  the  same  day  annually 
thereafter,  the  American  Life  and  Trust  Company, 
or  the  president  and  trustees  thereof,  shall  pay  or 
cause  to  be  paid  to  the  treasurer  of  the  Western 
Shore,  the  sum  of  twenty  cents,  on  every  hundred 
dollars,  of  the  present  capital  of  the  said  company 
then  actually  paid  in,  and  the  like  sum  on  so  much 
as  the  said  capital  may  be  increased  by  virtue  of  this 
act,  to  be  applied  by  the  said  treasurer  in  augmenta¬ 
tion  of  the  free  school  fund,  and  distributed  in  the 
same  manner  as  the  similar  tax,  on  incorporated 
banks  in  the  city  of  Baltimore,  is  now  distributed;  and 
in  case  of  the  failure  of  the  said  company,  or  of  the 
president  and  trustees  thereof,  to  make  such  payment 
for  the  space  of  six  months,  after  the  same  shall  have 
become  due  or  payable,  this  charter  shall  be  forfeited 
and  be  deemed  null  and  void. 


52 


ADDITIONAL  SUPPLEMENT. 


Sec.  4.  And  be  it  enacted ,  That  so  much  of  the  act 
of  Assembly  to  which  this  is  a  supplement,  and  the 
supplement  thereto,  as  is  inconsistent  herewith,  he 
and  the  same  is  hereby  repealed. 

Sec.  5.  And  be  it  enacted ,  That  this  act  shall  have 
no  effect  unless  it  be  accepted  by  stockholders  holding 
a  majority  of  the  shares  of  the  stock,  at  a  general 
meeting  of  the  stockholders,  to  be  called  upon  thirty 
days  notice  thereof,  published  at  least  twice  a  wTeek 
in  all  the  daily  newspapers  of  the  city  of  Baltimore, 
in  which  notice,  the  object  of  such  meeting  shall  be 
stated,  as  being  the  question  of  the  acceptance  of 
this  act. 


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